Crane NXT, Co. (NYSE:CXT) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in Crane NXT, Co. (NYSE:CXT) by 19.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 317,556 shares of the company’s stock after selling 74,523 shares during the period. Lord Abbett & CO. LLC owned about 0.55% of Crane NXT worth $16,322,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Boston Partners boosted its holdings in Crane NXT by 25.8% in the 1st quarter. Boston Partners now owns 28,062 shares of the company’s stock worth $1,442,000 after buying an additional 5,749 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Crane NXT by 10.9% during the 1st quarter. Russell Investments Group Ltd. now owns 187,847 shares of the company’s stock worth $9,655,000 after purchasing an additional 18,530 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Crane NXT by 4.0% during the 1st quarter. Invesco Ltd. now owns 1,064,749 shares of the company’s stock worth $54,728,000 after purchasing an additional 40,602 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Crane NXT by 9.6% during the 1st quarter. Benjamin Edwards Inc. now owns 14,197 shares of the company’s stock worth $730,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Crane NXT by 58.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,113 shares of the company’s stock worth $8,949,000 after purchasing an additional 63,936 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. DA Davidson lowered their target price on Crane NXT from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, May 9th. UBS Group lowered their target price on Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Three 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.75.

Crane NXT Trading Down 1.5%

CXT opened at $59.46 on Friday. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.00. The stock has a market capitalization of $3.41 billion, a PE ratio of 22.69 and a beta of 1.33. The business’s 50 day moving average price is $57.14 and its 200 day moving average price is $54.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. The firm had revenue of $404.40 million for the quarter, compared to analysts’ expectations of $382.79 million. As a group, equities research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be issued a $0.17 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Crane NXT’s dividend payout ratio is currently 25.95%.

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.