Connor Clark & Lunn Investment Management Ltd. Increases Holdings in Crane NXT, Co. (NYSE:CXT)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 84.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,177 shares of the company's stock after purchasing an additional 50,286 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Crane NXT worth $6,415,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Atria Investments Inc lifted its stake in Crane NXT by 6.0% during the third quarter. Atria Investments Inc now owns 3,700 shares of the company's stock valued at $208,000 after buying an additional 208 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Crane NXT by 1.0% during the fourth quarter. Amalgamated Bank now owns 22,950 shares of the company's stock valued at $1,336,000 after acquiring an additional 233 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Crane NXT by 1.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 12,923 shares of the company's stock valued at $725,000 after buying an additional 245 shares in the last quarter. Cetera Trust Company N.A increased its position in Crane NXT by 7.0% in the fourth quarter. Cetera Trust Company N.A now owns 4,198 shares of the company's stock worth $244,000 after purchasing an additional 275 shares during the period. Finally, Fifth Third Bancorp increased its position in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after purchasing an additional 276 shares during the period. Institutional investors own 77.49% of the company's stock.

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Crane NXT Stock Performance

NYSE:CXT traded up $0.30 during trading hours on Wednesday, reaching $55.32. The stock had a trading volume of 335,702 shares, compared to its average volume of 457,198. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The stock has a 50 day simple moving average of $59.75 and a 200 day simple moving average of $58.32. Crane NXT, Co. has a 12-month low of $52.05 and a 12-month high of $67.00. The stock has a market cap of $3.17 billion, a P/E ratio of 17.34 and a beta of 1.32.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. On average, research analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This is an increase from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.23%. Crane NXT's payout ratio is 21.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CXT shares. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a research note on Tuesday, February 18th. Northland Capmk cut Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.33.

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.