Intech Investment Management LLC boosted its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 59.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,786 shares of the company's stock after acquiring an additional 17,762 shares during the period. Intech Investment Management LLC owned 0.08% of Crane NXT worth $2,782,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CXT. Corient Private Wealth LLC raised its holdings in shares of Crane NXT by 1.2% in the 4th quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock worth $1,231,000 after purchasing an additional 254 shares during the period. Royce & Associates LP increased its position in Crane NXT by 35.7% in the fourth quarter. Royce & Associates LP now owns 376,421 shares of the company's stock worth $21,915,000 after buying an additional 98,936 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Crane NXT in the fourth quarter valued at $334,000. Madison Investment Advisors LLC purchased a new position in shares of Crane NXT during the 4th quarter valued at $3,382,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Crane NXT by 84.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 110,177 shares of the company's stock worth $6,415,000 after acquiring an additional 50,286 shares during the period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
CXT has been the topic of a number of research reports. Northland Capmk cut Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target on the stock. in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Crane NXT currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.33.
Read Our Latest Research Report on CXT
Crane NXT Stock Performance
Shares of NYSE:CXT traded up $0.88 during midday trading on Monday, reaching $53.85. 449,827 shares of the company traded hands, compared to its average volume of 359,045. Crane NXT, Co. has a 12 month low of $52.02 and a 12 month high of $67.01. The firm's fifty day moving average price is $59.29 and its two-hundred day moving average price is $58.25. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.88 and a beta of 1.32.
Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) 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%. On average, equities analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.
Crane NXT Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a dividend of $0.17 per share. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT's payout ratio is 21.32%.
Crane NXT Profile
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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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