Voya Investment Management LLC Lowers Holdings in Crane NXT, Co. (NYSE:CXT)

Voya Investment Management LLC reduced its stake in Crane NXT, Co. (NYSE:CXT) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,953 shares of the company’s stock after selling 424 shares during the period. Voya Investment Management LLC’s holdings in Crane NXT were worth $347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after buying an additional 276 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Crane NXT in the 3rd quarter worth approximately $32,000. Covestor Ltd raised its holdings in Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company’s stock worth $43,000 after acquiring an additional 206 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Crane NXT by 985.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock valued at $95,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Cascade Financial Partners LLC purchased a new stake in Crane NXT during the 4th quarter valued at $202,000. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Price Performance

Shares of CXT opened at $52.92 on Monday. The firm has a fifty day simple moving average of $49.15 and a two-hundred day simple moving average of $55.95. The firm has a market cap of $3.04 billion, a PE ratio of 16.59 and a beta of 1.27. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.01.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The company had revenue of $330.30 million during the quarter, compared to analyst estimates of $318.46 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. Crane NXT’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, May 30th. Crane NXT’s payout ratio is currently 23.37%.

Analyst Ratings Changes

Several research firms have recently weighed in on CXT. DA Davidson decreased their price target on Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Finally, Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research note 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.33.

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.