Congress Asset Management Co. Raises Position in Crane NXT, Co. (NYSE:CXT)

Congress Asset Management Co. boosted its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 752,734 shares of the company's stock after buying an additional 9,921 shares during the quarter. Congress Asset Management Co. owned approximately 1.32% of Crane NXT worth $43,824,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Crane NXT by 98.6% during the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after buying an additional 276 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Crane NXT during the 3rd quarter worth $32,000. nVerses Capital LLC purchased a new stake in Crane NXT in the third quarter valued at $45,000. Quest Partners LLC acquired a new position in Crane NXT in the third quarter valued at $181,000. Finally, Oak Thistle LLC purchased a new position in shares of Crane NXT during the fourth quarter worth about $203,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Stock Performance

Shares of CXT stock traded up $0.13 during trading hours on Thursday, reaching $59.24. 463,160 shares of the company's stock were exchanged, compared to its average volume of 444,572. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. Crane NXT, Co. has a 1 year low of $52.89 and a 1 year high of $67.00. The company has a market cap of $3.39 billion, a P/E ratio of 18.57 and a beta of 1.36. The company's 50 day moving average is $61.01 and its two-hundred day moving average is $58.57.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Equities research analysts anticipate that Crane NXT, Co. will post 4.18 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 28th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, February 28th. This is a boost from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.15%. Crane NXT's payout ratio is currently 20.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Robert W. Baird boosted their price objective on Crane NXT from $77.00 to $78.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective for the company. in a research report on Tuesday. Finally, Northland Capmk cut shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Crane NXT presently has an average rating of "Moderate Buy" and a consensus price target of $83.33.

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.