Capital International Investors Raises Stake in Crane NXT, Co. (NYSE:CXT)

Capital International Investors grew its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 79.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,351,044 shares of the company's stock after acquiring an additional 597,537 shares during the quarter. Capital International Investors owned about 2.36% of Crane NXT worth $78,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CXT. Conestoga Capital Advisors LLC purchased a new position in shares of Crane NXT in the 4th quarter valued at approximately $31,517,000. Norges Bank acquired a new stake in shares of Crane NXT in the 4th quarter worth $26,754,000. FMR LLC lifted its stake in shares of Crane NXT by 4.1% in the 4th quarter. FMR LLC now owns 8,576,731 shares of the company's stock worth $499,337,000 after acquiring an additional 336,765 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Crane NXT by 185.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 180,409 shares of the company's stock valued at $10,503,000 after acquiring an additional 117,207 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in Crane NXT by 35.7% during the fourth quarter. Royce & Associates LP now owns 376,421 shares of the company's stock worth $21,915,000 after purchasing an additional 98,936 shares in the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CXT has been the topic of several recent analyst reports. Northland Capmk cut Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. 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, February 18th. Two investment 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 company's stock. According to data from MarketBeat.com, Crane NXT currently has an average rating of "Moderate Buy" and an average price target of $83.33.

Crane NXT Price Performance

CXT stock traded up $1.91 during midday trading on Thursday, hitting $46.46. 304,636 shares of the stock were exchanged, compared to its average volume of 381,915. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 14.56 and a beta of 1.21. The stock's 50-day moving average price is $51.36 and its 200-day moving average price is $56.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14.

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

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio is 21.32%.

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.