Crane Holdings Co. (CXT, Financial) (1.2% of net assets as of March 31, 2023) (CXT – $113.50 – NYSE), based in Stamford, Connecticut, is a diversified manufacturer of highly engineered industrial products comprised of four business segments: Aerospace & Electronics, Process Flow Technologies, Payments & Merchandising Technologies, and Engineered Materials, with over 11,000 employees across 34 countries. The company announced in March 2022 that it will separate into two independent companies, where the Payment and Merchandising Technologies business will become “Crane NXT” and the Aerospace & Electronics and Process Flow Technologies business retain the Crane Co. name.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund first-quarter 2023 commentary.
