D.A. Davidson & CO. Trims Stock Holdings in Crane NXT, Co. (NYSE:CXT)

D.A. Davidson & CO. trimmed its holdings in Crane NXT, Co. (NYSE:CXT) by 7.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 145,271 shares of the company’s stock after selling 11,468 shares during the quarter. D.A. Davidson & CO.’s holdings in Crane NXT were worth $8,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in Crane NXT in the 3rd quarter valued at $32,000. Fifth Third Bancorp boosted its holdings in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after purchasing an additional 276 shares during the period. nVerses Capital LLC bought a new position in Crane NXT in the 3rd quarter valued at $45,000. Quest Partners LLC bought a new position in Crane NXT in the 3rd quarter valued at $181,000. Finally, Oak Thistle LLC bought a new position in Crane NXT in the 4th quarter valued at $203,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Stock Performance

NYSE CXT opened at $59.25 on Wednesday. Crane NXT, Co. has a 52-week low of $52.89 and a 52-week high of $67.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. The company has a market capitalization of $3.39 billion, a P/E ratio of 19.43 and a beta of 1.36. The company has a fifty day moving average of $61.05 and a 200-day moving average of $58.57.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. As a group, equities research analysts predict that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.15%. Crane NXT’s payout ratio is currently 20.98%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Northland Securities downgraded shares of 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.

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.