Segall Bryant & Hamill LLC Trims Holdings in Crane NXT, Co. (NYSE:CXT)

Segall Bryant & Hamill LLC reduced its holdings in Crane NXT, Co. (NYSE:CXT) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,507 shares of the company’s stock after selling 3,686 shares during the period. Segall Bryant & Hamill LLC’s holdings in Crane NXT were worth $16,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CXT. LRI Investments LLC acquired a new position in Crane NXT in the first quarter valued at approximately $38,000. nVerses Capital LLC purchased a new position in Crane NXT during the third quarter worth approximately $45,000. Hobbs Group Advisors LLC acquired a new stake in Crane NXT in the second quarter valued at approximately $52,000. Blue Trust Inc. increased its position in shares of Crane NXT by 27.8% in the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after buying an additional 205 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Northland Securities lowered their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. DA Davidson reiterated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th. Finally, Baird R W upgraded Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th.

Crane NXT Stock Performance

NYSE:CXT opened at $56.86 on Thursday. The company’s 50-day moving average is $56.08 and its two-hundred day moving average is $58.37. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 18.64 and a beta of 1.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01. Crane NXT, Co. has a 1-year low of $50.31 and a 1-year high of $64.80.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The company had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $392.44 million. During the same period in the prior year, the firm earned $1.09 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. Analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s payout ratio is 20.98%.

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.