Gladius Capital Management LP Trims Holdings in Crane NXT, Co. (NYSE:CXT)

Gladius Capital Management LP trimmed its position in Crane NXT, Co. (NYSE:CXT) by 30.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 528 shares of the company’s stock after selling 228 shares during the quarter. Gladius Capital Management LP’s holdings in Crane NXT were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CXT. Xponance Inc. acquired a new position in shares of Crane NXT during the third quarter worth $319,000. Hudson Bay Capital Management LP acquired a new stake in shares of Crane NXT during the third quarter worth about $3,319,000. Clearbridge Investments LLC purchased a new stake in Crane NXT in the third quarter valued at approximately $10,781,000. Swiss National Bank acquired a new stake in Crane NXT during the 3rd quarter worth about $5,890,000. Finally, Signaturefd LLC acquired a new stake in Crane NXT during the third quarter worth about $109,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

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 business has a fifty day moving average of $60.83 and a two-hundred day moving average of $57.21. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3.46 billion, a P/E ratio of 18.53 and a beta of 1.36. Crane NXT, Co. has a 1 year low of $48.19 and a 1 year high of $63.89.

Crane NXT (NYSE:CXT) last released its 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 business had revenue of $313.60 million during the quarter, compared to analysts’ expectations of $311.72 million. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.96 earnings per share. As a group, research analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 28th. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. Crane NXT’s dividend payout ratio is currently 19.57%.

Analyst Ratings Changes

A number of brokerages have weighed in on CXT. Northland Securities began coverage on shares of Crane NXT in a research report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective for the company. DA Davidson raised their price objective on Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

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.