Fmr LLC Purchases 336,765 Shares of Crane NXT, Co. (NYSE:CXT)

FMR LLC lifted its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,576,731 shares of the company's stock after buying an additional 336,765 shares during the quarter. FMR LLC owned about 15.00% of Crane NXT worth $499,337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stifel Financial Corp raised its stake in Crane NXT by 60.6% in the third quarter. Stifel Financial Corp now owns 43,627 shares of the company's stock valued at $2,448,000 after purchasing an additional 16,465 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of Crane NXT during the 4th quarter valued at approximately $527,000. Barclays PLC lifted its stake in Crane NXT by 45.3% in the 3rd 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 last quarter. Lord Abbett & CO. LLC grew its stake in shares of Crane NXT by 12.3% during the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company's stock worth $22,224,000 after buying an additional 43,439 shares during the last quarter. Finally, Norges Bank bought a new position in Crane NXT in the fourth quarter valued at about $26,754,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CXT has been the subject of several analyst reports. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Northland Securities downgraded shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.33.

Crane NXT Stock Down 0.5 %

Shares of NYSE:CXT traded down $0.21 during trading on Tuesday, reaching $45.28. 47,911 shares of the stock were exchanged, compared to its average volume of 379,986. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.01. The stock has a fifty day moving average of $53.62 and a two-hundred day moving average of $57.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 14.22 and a beta of 1.21.

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

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's payout ratio is 21.32%.

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.