State Street Corp Purchases 22,041 Shares of Crane NXT, Co. (NYSE:CXT)

State Street Corp lifted its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,443,518 shares of the company's stock after purchasing an additional 22,041 shares during the period. State Street Corp owned about 2.52% of Crane NXT worth $80,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CXT. Pacer Advisors Inc. increased its position in shares of Crane NXT by 93.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company's stock worth $69,716,000 after purchasing an additional 548,155 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Crane NXT by 97.0% in the 2nd quarter. Hsbc Holdings PLC now owns 247,842 shares of the company's stock valued at $15,222,000 after purchasing an additional 122,056 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of Crane NXT by 18.3% during the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company's stock worth $41,672,000 after acquiring an additional 114,707 shares in the last quarter. Potrero Capital Research LLC purchased a new position in Crane NXT in the third quarter valued at approximately $5,734,000. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in Crane NXT in the third quarter valued at $5,712,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Price Performance

NYSE:CXT traded down $1.60 during trading hours on Tuesday, hitting $58.69. The company's stock had a trading volume of 273,048 shares, compared to its average volume of 346,152. The company has a market capitalization of $3.36 billion, a P/E ratio of 19.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01. The stock has a fifty day simple moving average of $57.80 and a 200-day simple moving average of $58.36. Crane NXT, Co. has a twelve month low of $52.89 and a twelve month high of $64.80.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $392.44 million. During the same period in the prior year, the business posted $1.09 earnings per share. The company's quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts anticipate that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.09%. Crane NXT's payout ratio is 20.98%.

Analyst Ratings Changes

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

Crane NXT 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.