Gamco Investors INC. ET AL Sells 11,606 Shares of Crane NXT, Co. $CXT

Gamco Investors INC. ET AL cut its stake in Crane NXT, Co. (NYSE:CXT) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 196,546 shares of the company’s stock after selling 11,606 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Crane NXT were worth $13,182,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CXT. Alliancebernstein L.P. grew its holdings in Crane NXT by 2,449.9% during the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock worth $95,446,000 after buying an additional 1,701,361 shares in the last quarter. Norges Bank bought a new position in Crane NXT during the 2nd quarter valued at $32,163,000. Southernsun Asset Management LLC bought a new position in Crane NXT during the 2nd quarter valued at $17,264,000. Victory Capital Management Inc. boosted its holdings in Crane NXT by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,635,770 shares of the company’s stock worth $109,711,000 after acquiring an additional 260,986 shares during the last quarter. Finally, Channing Capital Management LLC purchased a new position in Crane NXT during the 3rd quarter worth $14,384,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Down 3.3%

NYSE:CXT opened at $46.21 on Friday. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $69.00. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $50.68 and its 200 day moving average is $56.72. The stock has a market capitalization of $2.65 billion, a PE ratio of 18.41 and a beta of 1.18.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.02. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The business had revenue of $476.90 million during the quarter, compared to analyst estimates of $450.53 million. During the same period in the prior year, the company earned $1.20 earnings per share. Crane NXT’s revenue was up 19.5% compared to the same quarter last year. Sell-side analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Saturday, February 28th will be issued a $0.18 dividend. This is an increase from Crane NXT’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.72 annualized dividend and a yield of 1.6%. Crane NXT’s payout ratio is 28.69%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CXT. Robert W. Baird set a $73.00 target price on shares of Crane NXT in a report on Friday, February 13th. Zacks Research upgraded shares of Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. DA Davidson reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. Finally, Northland Securities set a $62.00 target price on shares of Crane NXT in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Crane NXT currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.60.

Crane NXT Profile

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.