Rockefeller Capital Management L.P. Cuts Position in Crane NXT, Co. $CXT

Rockefeller Capital Management L.P. trimmed its stake in Crane NXT, Co. (NYSE:CXT) by 45.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,553 shares of the company’s stock after selling 22,247 shares during the period. Rockefeller Capital Management L.P.’s holdings in Crane NXT were worth $1,431,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. AlphaQuest LLC purchased a new position in Crane NXT in the second quarter valued at about $25,000. Jones Financial Companies Lllp grew its position in shares of Crane NXT by 120.3% in the 1st quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $37,000 after buying an additional 391 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Crane NXT by 9,087.5% during the second quarter. Hantz Financial Services Inc. now owns 735 shares of the company’s stock valued at $40,000 after acquiring an additional 727 shares during the last quarter. GAMMA Investing LLC boosted its stake in Crane NXT by 14.1% in the second quarter. GAMMA Investing LLC now owns 2,974 shares of the company’s stock valued at $160,000 after acquiring an additional 368 shares in the last quarter. Finally, JB Capital LLC acquired a new stake in Crane NXT in the second quarter valued at approximately $204,000. Institutional investors own 77.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CXT. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, October 8th. Oppenheimer increased their price target on Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Finally, DA Davidson reissued a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a report on Tuesday, September 23rd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Crane NXT has a consensus rating of “Hold” and a consensus price target of $74.25.

Crane NXT Stock Performance

Shares of CXT opened at $54.80 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. The stock has a 50-day moving average of $63.02 and a two-hundred day moving average of $59.27. The stock has a market cap of $3.15 billion, a P/E ratio of 20.92 and a beta of 1.37. Crane NXT, Co. has a one year low of $41.54 and a one year high of $69.00.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, June 1st. The company reported $1.81 earnings per share for the quarter. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The business had revenue of $871.50 million for the quarter. As a group, research analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 28th. Crane NXT’s payout ratio is presently 25.37%.

Crane NXT Company 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.