Madison Investment Advisors LLC Makes New $3.38 Million Investment in Crane NXT, Co. (NYSE:CXT)

Madison Investment Advisors LLC bought a new position in Crane NXT, Co. (NYSE:CXT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 58,098 shares of the company's stock, valued at approximately $3,382,000. Madison Investment Advisors LLC owned about 0.10% of Crane NXT as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Crane NXT in the third quarter valued at about $32,000. Fifth Third Bancorp grew its position in Crane NXT by 98.6% during the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after acquiring an additional 276 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Crane NXT by 985.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock valued at $95,000 after purchasing an additional 1,488 shares in the last quarter. Quest Partners LLC bought a new position in Crane NXT in the 3rd quarter valued at $181,000. Finally, Cascade Financial Partners LLC acquired a new position in Crane NXT in the fourth quarter worth $202,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. 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 research note on Tuesday, February 18th. Northland Capmk downgraded shares of 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 given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $83.33.

Crane NXT Trading Down 1.2 %

Shares of CXT stock traded down $0.64 on Wednesday, reaching $52.31. 332,391 shares of the stock were exchanged, compared to its average volume of 359,738. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. Crane NXT, Co. has a one year low of $52.02 and a one year high of $67.01. The stock has a market cap of $2.99 billion, a PE ratio of 16.40 and a beta of 1.32. The stock has a 50 day moving average price of $58.91 and a 200 day moving average price of $58.21.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently disclosed 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 of this dividend was Friday, February 28th. This is a boost from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. Crane NXT's dividend payout ratio (DPR) is presently 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.