Connor Clark & Lunn Investment Management Ltd. Has $3.36 Million Stock Position in Crane NXT, Co. (NYSE:CXT)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 64.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,891 shares of the company's stock after purchasing an additional 23,580 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Crane NXT worth $3,360,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CXT. LRI Investments LLC acquired a new stake in Crane NXT during the 1st quarter worth approximately $38,000. Price T Rowe Associates Inc. MD boosted its position in shares of Crane NXT by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,644 shares of the company's stock valued at $1,650,000 after acquiring an additional 1,407 shares during the period. Ancora Advisors LLC grew its stake in shares of Crane NXT by 5.5% in the first quarter. Ancora Advisors LLC now owns 320,085 shares of the company's stock valued at $19,813,000 after acquiring an additional 16,740 shares in the last quarter. Tidal Investments LLC increased its position in Crane NXT by 22.4% during the first quarter. Tidal Investments LLC now owns 6,383 shares of the company's stock worth $395,000 after acquiring an additional 1,170 shares during the period. Finally, Cetera Advisors LLC acquired a new stake in Crane NXT in the 1st quarter worth about $244,000. 77.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CXT has been the topic of several recent research reports. Robert W. Baird lifted their price target on shares of Crane NXT from $77.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Baird R W raised Crane NXT to a "strong-buy" rating in a report on Thursday, October 17th. DA Davidson reaffirmed a "buy" rating and issued a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Finally, Northland Securities reduced their price objective on shares of Crane NXT from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th.

Crane NXT Price Performance

Shares of CXT traded up $2.09 during midday trading on Monday, hitting $62.20. The company's stock had a trading volume of 567,034 shares, compared to its average volume of 348,542. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. Crane NXT, Co. has a one year low of $50.31 and a one year high of $64.80. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 20.39 and a beta of 1.33. The company's fifty day simple moving average is $56.22 and its two-hundred day simple moving average is $58.32.

Crane NXT (NYSE:CXT - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm 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 business posted $1.09 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts expect that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.03%. Crane NXT's dividend payout ratio (DPR) is presently 20.98%.

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.