Royce & Associates LP Increases Stake in Crane NXT, Co. (NYSE:CXT)

Royce & Associates LP raised its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 35.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 376,421 shares of the company's stock after purchasing an additional 98,936 shares during the quarter. Royce & Associates LP owned 0.66% of Crane NXT worth $21,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Stifel Financial Corp raised its position in shares of Crane NXT by 60.6% during the 3rd quarter. Stifel Financial Corp now owns 43,627 shares of the company's stock valued at $2,448,000 after buying an additional 16,465 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in Crane NXT during the fourth quarter valued at approximately $527,000. Barclays PLC raised its position in Crane NXT by 45.3% during the third quarter. Barclays PLC now owns 37,663 shares of the company's stock valued at $2,113,000 after purchasing an additional 11,734 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Crane NXT by 12.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company's stock valued at $22,224,000 after purchasing an additional 43,439 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in shares of Crane NXT in the 3rd quarter worth approximately $507,000. Institutional investors own 77.49% of the company's stock.

Crane NXT Trading Down 3.2 %

CXT traded down $1.77 during trading hours on Thursday, reaching $53.56. 354,726 shares of the company's stock traded hands, compared to its average volume of 356,137. The firm has a 50-day moving average price of $59.63 and a 200 day moving average price of $58.29. The firm has a market capitalization of $3.07 billion, a PE ratio of 16.79 and a beta of 1.32. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 52-week low of $52.05 and a 52-week high of $67.01.

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Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts predict 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. Stockholders 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 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 1.27%. Crane NXT's dividend payout ratio (DPR) is 21.32%.

Analyst Upgrades and Downgrades

CXT has been the subject of a number of analyst reports. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target for the company. in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.33.

About Crane NXT

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.