Crane NXT, Co. (NYSE:CXT) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,000,796 shares of the company's stock after purchasing an additional 60,468 shares during the period. Geode Capital Management LLC owned about 1.75% of Crane NXT worth $56,157,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. M&T Bank Corp lifted its stake in Crane NXT by 45.0% in the 3rd quarter. M&T Bank Corp now owns 42,298 shares of the company's stock valued at $2,373,000 after buying an additional 13,121 shares in the last quarter. Barclays PLC boosted its stake in shares of Crane NXT by 45.3% in the third quarter. Barclays PLC now owns 37,663 shares of the company's stock worth $2,113,000 after acquiring an additional 11,734 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Crane NXT by 18.8% in the third quarter. XTX Topco Ltd now owns 5,794 shares of the company's stock worth $325,000 after acquiring an additional 918 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Crane NXT during the third quarter worth approximately $333,000. Finally, Jane Street Group LLC raised its stake in Crane NXT by 437.3% in the 3rd quarter. Jane Street Group LLC now owns 67,092 shares of the company's stock valued at $3,764,000 after purchasing an additional 54,606 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.

Crane NXT Trading Up 0.7 %

Shares of CXT traded up $0.37 during mid-day trading on Monday, reaching $56.81. The stock had a trading volume of 267,579 shares, compared to its average volume of 352,487. Crane NXT, Co. has a 52-week low of $52.89 and a 52-week high of $64.80. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 18.63 and a beta of 1.34. The business's fifty day moving average is $57.95 and its 200 day moving average is $58.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. The business had revenue of $403.50 million during the quarter, compared to analysts' expectations of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. On average, sell-side analysts predict that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Crane NXT's dividend payout ratio is currently 20.98%.

Analyst Ratings Changes

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

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.