Allspring Global Investments Holdings LLC Sells 61,046 Shares of Crane NXT, Co. (NYSE:CXT)

Allspring Global Investments Holdings LLC reduced its stake in Crane NXT, Co. (NYSE:CXT) by 39.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,017 shares of the company’s stock after selling 61,046 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of Crane NXT worth $5,233,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CXT. Radnor Capital Management LLC increased its stake in shares of Crane NXT by 2.8% in the 4th quarter. Radnor Capital Management LLC now owns 16,780 shares of the company’s stock valued at $954,000 after acquiring an additional 460 shares during the last quarter. CWM LLC acquired a new position in Crane NXT during the third quarter valued at approximately $28,000. Acadian Asset Management LLC bought a new stake in Crane NXT in the third quarter valued at approximately $28,000. Ronald Blue Trust Inc. acquired a new stake in Crane NXT in the third quarter worth $30,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Crane NXT during the third quarter worth $34,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on CXT shares. DA Davidson upped their price objective on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Northland Securities began coverage on Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 target price for the company.

Crane NXT Stock Down 0.1 %

Crane NXT stock opened at $61.37 on Friday. The company has a 50 day moving average of $60.07 and a 200-day moving average of $56.33. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66. Crane NXT, Co. has a twelve month low of $46.14 and a twelve month high of $63.36. The stock has a market capitalization of $3.51 billion, a PE ratio of 18.77 and a beta of 1.37.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.92 by $0.07. The business had revenue of $356.90 million for the quarter, compared to analysts’ expectations of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 EPS. On average, equities research analysts anticipate that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were given a dividend of $0.16 per share. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, February 28th. Crane NXT’s dividend payout ratio is currently 19.57%.

About Crane NXT

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.