Raymond James Financial Inc. Acquires Shares of 44,322 Crane NXT, Co. (NYSE:CXT)

Raymond James Financial Inc. bought a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,322 shares of the company's stock, valued at approximately $2,580,000. Raymond James Financial Inc. owned 0.08% of Crane NXT as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Crane NXT by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 444,863 shares of the company's stock valued at $24,957,000 after purchasing an additional 12,026 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Crane NXT in the third quarter worth approximately $407,000. Quantbot Technologies LP lifted its stake in Crane NXT by 296.9% in the third quarter. Quantbot Technologies LP now owns 24,065 shares of the company's stock valued at $1,350,000 after buying an additional 18,002 shares during the period. Townsquare Capital LLC boosted its holdings in shares of Crane NXT by 9.8% during the 3rd quarter. Townsquare Capital LLC now owns 33,014 shares of the company's stock worth $1,852,000 after buying an additional 2,952 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its position in shares of Crane NXT by 6.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,011 shares of the company's stock worth $449,000 after buying an additional 469 shares during the period. Institutional investors own 77.49% of the company's stock.

Crane NXT Stock Up 1.2 %

CXT traded up $0.60 during trading on Wednesday, hitting $52.13. 340,143 shares of the company's stock were exchanged, compared to its average volume of 373,859. The stock has a market cap of $2.98 billion, a P/E ratio of 16.34 and a beta of 1.32. The business's 50 day moving average is $57.40 and its two-hundred day moving average is $58.00. Crane NXT, Co. has a fifty-two week low of $50.23 and a fifty-two week high of $67.01. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

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Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results 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 net margin of 12.38% and a return on equity of 24.08%. As a group, equities analysts expect 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 dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 1.30%. This is an increase from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio is 21.32%.

Analyst Upgrades and Downgrades

CXT has been the topic of several research analyst reports. Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a research note on Tuesday, February 18th. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.33.

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.