Bessemer Group Inc. Purchases 14,073 Shares of Crane NXT, Co. (NYSE:CXT)

Bessemer Group Inc. boosted its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 349,482 shares of the company's stock after purchasing an additional 14,073 shares during the quarter. Bessemer Group Inc. owned 0.61% of Crane NXT worth $20,347,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CXT. Conestoga Capital Advisors LLC bought a new position in Crane NXT in the fourth quarter valued at about $31,517,000. Norges Bank acquired a new position in shares of Crane NXT during the fourth quarter worth approximately $26,754,000. FMR LLC boosted its holdings in Crane NXT by 4.1% during 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 last quarter. Envestnet Asset Management Inc. lifted its holdings in Crane NXT by 185.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 180,409 shares of the company's stock worth $10,503,000 after acquiring an additional 117,207 shares during the period. Finally, Royce & Associates LP lifted its stake in Crane NXT by 35.7% in the fourth quarter. Royce & Associates LP now owns 376,421 shares of the company's stock valued at $21,915,000 after purchasing an additional 98,936 shares during the last quarter. Institutional investors own 77.49% of the company's stock.

Crane NXT Stock Down 1.0 %

Crane NXT stock traded down $0.43 during trading on Wednesday, reaching $44.26. 78,434 shares of the company's stock were exchanged, compared to its average volume of 379,758. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 13.87 and a beta of 1.21. The company's 50-day moving average is $53.23 and its two-hundred day moving average is $57.02. 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, Co. has a 52-week low of $41.54 and a 52-week high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share 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%. On average, 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 disclosed 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio is currently 21.32%.

Analysts Set New Price Targets

Several analysts recently weighed in on CXT shares. Northland Securities cut 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 report on Tuesday, February 18th. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating 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 MarketBeat, Crane NXT 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.