Russell Investments Group Ltd. Sells 20,599 Shares of Crane NXT, Co. (NYSE:CXT)

Russell Investments Group Ltd. trimmed its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,317 shares of the company’s stock after selling 20,599 shares during the quarter. Russell Investments Group Ltd.’s holdings in Crane NXT were worth $9,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Amalgamated Bank increased its position in Crane NXT by 1.0% in the fourth quarter. Amalgamated Bank now owns 22,950 shares of the company’s stock worth $1,336,000 after buying an additional 233 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Crane NXT by 1.2% during the 4th quarter. Corient Private Wealth LLC now owns 21,139 shares of the company’s stock valued at $1,231,000 after acquiring an additional 254 shares during the period. Cetera Trust Company N.A increased its holdings in Crane NXT by 7.0% in the 4th quarter. Cetera Trust Company N.A now owns 4,198 shares of the company’s stock worth $244,000 after acquiring an additional 275 shares in the last quarter. Fifth Third Bancorp increased its holdings in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after acquiring an additional 276 shares in the last quarter. Finally, Xponance Inc. raised its stake in Crane NXT by 6.2% during the 4th quarter. Xponance Inc. now owns 5,587 shares of the company’s stock worth $325,000 after acquiring an additional 328 shares during the period. 77.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CXT shares. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a research report on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.33.

Crane NXT Price Performance

CXT stock opened at $45.27 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The company’s fifty day moving average price is $54.00 and its 200-day moving average price is $57.17. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.01. The company has a market capitalization of $2.59 billion, a PE ratio of 14.19 and a beta of 1.21.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. On average, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were paid a $0.17 dividend. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.50%. Crane NXT’s payout ratio is presently 21.32%.

Crane NXT Company 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.