ArrowMark Colorado Holdings LLC acquired a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 101,822 shares of the company's stock, valued at approximately $5,712,000. ArrowMark Colorado Holdings LLC owned about 0.18% of Crane NXT as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CXT. LRI Investments LLC increased its holdings in shares of Crane NXT by 1,875.0% in the second quarter. LRI Investments LLC now owns 632 shares of the company's stock valued at $39,000 after purchasing an additional 600 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Crane NXT during the 3rd quarter worth $45,000. Hobbs Group Advisors LLC acquired a new position in shares of Crane NXT during the 2nd quarter valued at about $52,000. Blue Trust Inc. grew its holdings in shares of Crane NXT by 27.8% in the second quarter. Blue Trust Inc. now owns 942 shares of the company's stock valued at $58,000 after purchasing an additional 205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in Crane NXT by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company's stock worth $116,000 after purchasing an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.
Crane NXT Stock Up 0.1 %
Shares of CXT stock traded up $0.05 on Tuesday, reaching $63.26. 54,198 shares of the stock were exchanged, compared to its average volume of 348,551. The business's 50 day moving average price is $56.55 and its 200 day moving average price is $58.38. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 20.74 and a beta of 1.34. Crane NXT, Co. has a twelve month low of $50.31 and a twelve month high of $64.80. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60.
Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 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 analyst estimates of $392.44 million. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.
Crane NXT Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.01%. Crane NXT's dividend payout ratio is presently 20.98%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Northland Securities dropped their price target on shares of Crane NXT from $96.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. DA Davidson restated a "buy" rating and set a $100.00 price target on shares of Crane NXT in a research report on Monday, September 30th. Robert W. Baird upped their target price on shares of Crane NXT from $77.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Baird R W upgraded Crane NXT to a "strong-buy" rating in a research note on Thursday, October 17th.
Check Out Our Latest Report on CXT
Crane NXT Profile
(
Free Report)
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.
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