Bessemer Group Inc. Sells 428,799 Shares of Crane NXT, Co. $CXT

Bessemer Group Inc. lessened its stake in shares of Crane NXT, Co. (NYSE:CXT) by 99.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 639 shares of the company’s stock after selling 428,799 shares during the quarter. Bessemer Group Inc.’s holdings in Crane NXT were worth $26,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in Crane NXT by 6.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,472 shares of the company’s stock valued at $233,000 after buying an additional 206 shares during the last quarter. California State Teachers Retirement System lifted its position in Crane NXT by 0.6% during the second quarter. California State Teachers Retirement System now owns 44,954 shares of the company’s stock worth $2,423,000 after acquiring an additional 271 shares during the last quarter. Madison Asset Management LLC lifted its position in Crane NXT by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 45,289 shares of the company’s stock worth $2,132,000 after acquiring an additional 290 shares during the last quarter. Creative Planning boosted its holdings in shares of Crane NXT by 2.9% during the third quarter. Creative Planning now owns 13,472 shares of the company’s stock worth $904,000 after acquiring an additional 384 shares during the period. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Crane NXT by 7.7% during the fourth quarter. Kestra Advisory Services LLC now owns 5,407 shares of the company’s stock worth $254,000 after acquiring an additional 386 shares during the period. Institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Down 4.8%

Shares of CXT stock opened at $51.92 on Thursday. Crane NXT, Co. has a fifty-two week low of $35.71 and a fifty-two week high of $69.00. The stock’s fifty day moving average price is $46.08 and its two-hundred day moving average price is $46.41. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.33. The company has a market cap of $2.99 billion, a PE ratio of 23.18 and a beta of 1.10.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Crane NXT had a return on equity of 19.59% and a net margin of 7.57%.The company had revenue of $387.70 million during the quarter, compared to analysts’ expectations of $378.63 million. During the same quarter in the previous year, the firm earned $0.54 EPS. Crane NXT’s revenue was up 17.4% on a year-over-year basis. Crane NXT has set its FY 2026 guidance at 4.100-4.400 EPS. Equities analysts predict that Crane NXT, Co. will post 4.23 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Sunday, May 31st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.72 annualized dividend and a yield of 1.4%. Crane NXT’s payout ratio is presently 32.14%.

Wall Street Analysts Forecast Growth

CXT has been the topic of a number of recent research reports. Weiss Ratings lowered Crane NXT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Northland Securities raised Crane NXT from a “market perform” rating to an “outperform” rating and set a $52.00 price objective on the stock in a report on Friday, May 15th. Robert W. Baird set a $67.00 price objective on Crane NXT in a report on Friday, May 8th. Finally, Oppenheimer lowered their price objective on Crane NXT from $80.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.40.

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