Gladius Capital Management LP Sells 228 Shares of Crane NXT, Co. (NYSE:CXT)

Gladius Capital Management LP lowered its stake in Crane NXT, Co. (NYSE:CXT) by 30.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 528 shares of the company’s stock after selling 228 shares during the period. Gladius Capital Management LP’s holdings in Crane NXT were worth $30,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CXT. FMR LLC bought a new position in shares of Crane NXT in the 3rd quarter worth $402,528,000. Vanguard Group Inc. bought a new stake in shares of Crane NXT in the 3rd quarter valued at about $306,517,000. Victory Capital Management Inc. raised its position in shares of Crane NXT by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,235,343 shares of the company’s stock valued at $70,254,000 after acquiring an additional 49,106 shares during the period. Lord Abbett & CO. LLC bought a new position in Crane NXT during the 3rd quarter worth approximately $39,749,000. Finally, Pacer Advisors Inc. grew its holdings in Crane NXT by 8,855.4% during the fourth quarter. Pacer Advisors Inc. now owns 705,688 shares of the company’s stock valued at $40,132,000 after purchasing an additional 697,808 shares during the period. Institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Northland Securities assumed coverage on shares of Crane NXT in a research report on Monday, April 8th. They set an “outperform” rating and a $91.00 price target on the stock. DA Davidson upped their price target on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

Crane NXT Stock Down 2.2 %

Shares of Crane NXT stock traded down $1.38 during trading hours on Thursday, reaching $60.60. 464,397 shares of the company’s stock were exchanged, compared to its average volume of 332,244. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $60.83 and a two-hundred day moving average of $57.21. The stock has a market cap of $3.46 billion, a P/E ratio of 18.53 and a beta of 1.36. Crane NXT, Co. has a fifty-two week low of $48.19 and a fifty-two week high of $63.89.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $313.60 million during the quarter, compared to the consensus estimate of $311.72 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, sell-side analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were paid a $0.16 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.06%. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. Crane NXT’s dividend payout ratio (DPR) 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.