Ritholtz Wealth Management Sells 453 Shares of Crane NXT, Co. (NYSE:CXT)

Ritholtz Wealth Management reduced its position in Crane NXT, Co. (NYSE:CXT) by 6.9% during the first quarter, Holdings Channel.com reports. The firm owned 6,075 shares of the company’s stock after selling 453 shares during the quarter. Ritholtz Wealth Management’s holdings in Crane NXT were worth $312,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Crane NXT by 46.0% in the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock worth $42,000 after purchasing an additional 256 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company’s stock worth $36,000 after purchasing an additional 327 shares in the last quarter. Congress Asset Management Co. lifted its stake in Crane NXT by 5.8% during the 1st quarter. Congress Asset Management Co. now owns 796,412 shares of the company’s stock valued at $40,936,000 after acquiring an additional 43,678 shares in the last quarter. Portside Wealth Group LLC bought a new position in Crane NXT during the 1st quarter valued at $193,000. Finally, NBC Securities Inc. lifted its stake in Crane NXT by 116,840.0% during the 1st quarter. NBC Securities Inc. now owns 5,847 shares of the company’s stock valued at $300,000 after acquiring an additional 5,842 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group dropped their price objective on Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. DA Davidson dropped their price objective on Crane NXT from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.75.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $54.60 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $51.30 and its two-hundred day simple moving average is $55.29. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.01. The stock has a market cap of $3.13 billion, a PE ratio of 18.76 and a beta of 1.30.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The firm had revenue of $330.30 million during the quarter, compared to analyst estimates of $318.46 million. During the same period last year, the firm posted $0.85 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Friday, May 30th. Crane NXT’s dividend payout ratio is presently 23.37%.

Crane NXT Profile

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions.