Legal & General Group Plc Cuts Stake in Crane NXT, Co. (NYSE:CXT)

Legal & General Group Plc lessened its stake in shares of Crane NXT, Co. (NYSE:CXT) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,495 shares of the company’s stock after selling 5,692 shares during the period. Legal & General Group Plc’s holdings in Crane NXT were worth $4,395,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Crane NXT by 4.1% in the 4th quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after purchasing an additional 336,765 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Crane NXT by 185.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 180,409 shares of the company’s stock valued at $10,503,000 after buying an additional 117,207 shares during the last quarter. ExodusPoint Capital Management LP grew its stake in shares of Crane NXT by 76.4% during the 4th quarter. ExodusPoint Capital Management LP now owns 67,290 shares of the company’s stock worth $3,918,000 after acquiring an additional 29,136 shares during the period. Wellington Management Group LLP increased its holdings in Crane NXT by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company’s stock worth $183,750,000 after acquiring an additional 72,992 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its stake in Crane NXT by 83.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 7,714 shares of the company’s stock valued at $449,000 after acquiring an additional 3,507 shares during the period. Institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Down 2.8 %

Shares of Crane NXT stock opened at $43.41 on Tuesday. The company’s 50-day moving average price is $51.93 and its 200-day moving average price is $56.71. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 13.61 and a beta of 1.21. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.01.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were issued a $0.17 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.57%. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio (DPR) is presently 21.32%.

Wall Street Analyst Weigh In

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

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.