10,100 Shares in Crane NXT, Co. (NYSE:CXT) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,100 shares of the company's stock, valued at approximately $588,000.

A number of other hedge funds have also bought and sold shares of CXT. Conestoga Capital Advisors LLC bought a new position in shares of Crane NXT during the 4th quarter worth about $31,517,000. Potrero Capital Research LLC purchased a new position in shares of Crane NXT in the 3rd quarter worth about $5,734,000. Royce & Associates LP increased its stake in shares of Crane NXT by 35.7% during the 4th quarter. Royce & Associates LP now owns 376,421 shares of the company's stock worth $21,915,000 after purchasing an additional 98,936 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Crane NXT by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company's stock valued at $56,157,000 after buying an additional 60,468 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new position in Crane NXT during the fourth quarter worth about $3,382,000. Institutional investors own 77.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CXT. Northland Securities lowered Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price for the company. in a report on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.33.

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Crane NXT Trading Down 3.9 %

Shares of NYSE:CXT traded down $1.82 on Friday, reaching $45.05. 722,575 shares of the company traded hands, compared to its average volume of 377,116. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 52 week low of $42.83 and a 52 week high of $67.01. The business's 50-day simple moving average is $56.66 and its 200 day simple moving average is $57.83. The stock has a market capitalization of $2.58 billion, a P/E ratio of 14.12 and a beta of 1.21.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating 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, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.51%. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio is presently 21.32%.

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.