Lord Abbett & CO. LLC Buys 43,439 Shares of Crane NXT, Co. (NYSE:CXT)

Lord Abbett & CO. LLC raised its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 12.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 396,152 shares of the company's stock after purchasing an additional 43,439 shares during the period. Lord Abbett & CO. LLC owned approximately 0.69% of Crane NXT worth $22,224,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Crane NXT during the 3rd quarter valued at $32,000. LRI Investments LLC boosted its stake in shares of Crane NXT by 1,875.0% during the second quarter. LRI Investments LLC now owns 632 shares of the company's stock valued at $39,000 after purchasing an additional 600 shares during the period. nVerses Capital LLC purchased a new stake in Crane NXT during the 3rd quarter valued at $45,000. Hobbs Group Advisors LLC bought a new stake in Crane NXT in the 2nd quarter worth $52,000. Finally, Blue Trust Inc. increased its position in shares of Crane NXT by 27.8% in the second quarter. Blue Trust Inc. now owns 942 shares of the company's stock valued at $58,000 after acquiring an additional 205 shares during the period. Institutional investors own 77.49% of the company's stock.

Crane NXT Stock Up 0.8 %

CXT traded up $0.48 during trading on Monday, hitting $60.33. 395,305 shares of the company's stock traded hands, compared to its average volume of 346,560. Crane NXT, Co. has a 12-month low of $52.89 and a 12-month high of $64.80. The company's 50 day simple moving average is $57.70 and its two-hundred day simple moving average is $58.39. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 19.78 and a beta of 1.34.

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

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, November 29th. Crane NXT's dividend payout ratio (DPR) is presently 20.98%.

Analysts Set New Price Targets

CXT has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Northland Securities decreased their price target on shares of Crane NXT from $96.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. DA Davidson reaffirmed a "buy" rating and set a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Finally, Baird R W upgraded Crane NXT to a "strong-buy" rating in a research report on Thursday, October 17th.

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.