Park Avenue Securities LLC Invests $527,000 in Crane NXT, Co. (NYSE:CXT)

Park Avenue Securities LLC purchased a new stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,049 shares of the company's stock, valued at approximately $527,000.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Crane NXT in the 3rd quarter worth $32,000. nVerses Capital LLC bought a new position in shares of Crane NXT during the third quarter valued at about $45,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Crane NXT by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company's stock worth $116,000 after buying an additional 265 shares during the period. GAMMA Investing LLC lifted its stake in shares of Crane NXT by 17.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,567 shares of the company's stock valued at $144,000 after acquiring an additional 380 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Crane NXT during the 3rd quarter valued at about $181,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Trading Down 2.4 %

CXT stock traded down $1.58 on Friday, reaching $63.74. The company's stock had a trading volume of 341,097 shares, compared to its average volume of 364,146. The firm has a market cap of $3.64 billion, a PE ratio of 20.90 and a beta of 1.35. The business has a fifty day simple moving average of $60.69 and a two-hundred day simple moving average of $58.36. Crane NXT, Co. has a 12-month low of $52.89 and a 12-month high of $67.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The company had revenue of $403.50 million for the quarter, compared to analysts' expectations of $392.44 million. During the same quarter in the previous year, the company earned $1.09 earnings per share. Crane NXT's quarterly revenue was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were issued a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. Crane NXT's dividend payout ratio (DPR) is 20.98%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Baird R W upgraded Crane NXT to a "strong-buy" rating in a research report on Thursday, October 17th. Robert W. Baird upped their price target on shares of Crane NXT from $77.00 to $78.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Northland Securities cut their price target on shares of Crane NXT from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Finally, DA Davidson restated a "buy" rating and issued a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th.

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.