Ritholtz Wealth Management Has $317,000 Stake in Crane NXT, Co. $CXT

Ritholtz Wealth Management decreased its stake in shares of Crane NXT, Co. (NYSE:CXT) by 3.2% during the second quarter, HoldingsChannel.com reports. The fund owned 5,878 shares of the company’s stock after selling 197 shares during the period. Ritholtz Wealth Management’s holdings in Crane NXT were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp grew its holdings in Crane NXT by 120.3% in the 1st quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $37,000 after buying an additional 391 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Crane NXT in the 1st quarter valued at approximately $44,000. Financial Harvest LLC acquired a new stake in Crane NXT in the 1st quarter valued at approximately $139,000. GAMMA Investing LLC grew its holdings in Crane NXT by 14.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,974 shares of the company’s stock valued at $160,000 after buying an additional 368 shares during the last quarter. Finally, JB Capital LLC acquired a new stake in Crane NXT in the 2nd quarter valued at approximately $204,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Price Performance

Crane NXT stock opened at $67.54 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89. The company has a market capitalization of $3.88 billion, a PE ratio of 25.78 and a beta of 1.36. Crane NXT, Co. has a one year low of $41.54 and a one year high of $69.00. The business has a 50 day simple moving average of $62.64 and a 200 day simple moving average of $56.44.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, June 1st. The company reported $1.81 EPS for the quarter. The business had revenue of $871.50 million during the quarter. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. On average, sell-side analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, August 29th. Crane NXT’s dividend payout ratio (DPR) is 25.95%.

Wall Street Analyst Weigh In

CXT has been the topic of a number of research analyst reports. Oppenheimer raised their target price on Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. DA Davidson restated a “buy” rating and set a $85.00 price objective on shares of Crane NXT in a research report on Tuesday, September 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.00.

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.