First Trust Advisors LP Purchases 128,512 Shares of Crane NXT, Co. (NYSE:CXT)

First Trust Advisors LP lifted its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 373,637 shares of the company's stock after buying an additional 128,512 shares during the period. First Trust Advisors LP owned about 0.65% of Crane NXT worth $21,753,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CXT. Fifth Third Bancorp lifted its stake in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock valued at $32,000 after buying an additional 276 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Crane NXT in the 3rd quarter valued at $32,000. Covestor Ltd boosted its stake in Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after purchasing an additional 206 shares during the period. Venturi Wealth Management LLC boosted its stake in Crane NXT by 985.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after purchasing an additional 1,488 shares during the period. Finally, Cascade Financial Partners LLC bought a new position in Crane NXT during the 4th quarter worth about $202,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CXT shares. Northland Capmk cut Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Northland Securities downgraded Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target for the company. in a research report on Tuesday, February 18th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.33.

Crane NXT Price Performance

NYSE:CXT opened at $46.69 on Friday. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.01. The company has a market cap of $2.68 billion, a P/E ratio of 14.64 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The stock's 50-day simple moving average is $50.84 and its 200 day simple moving average is $56.46.

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

Crane NXT Increases Dividend

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

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.

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