Transce3nd LLC Makes New $334,000 Investment in Crane NXT, Co. (NYSE:CXT)

Transce3nd LLC acquired a new position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,734 shares of the company's stock, valued at approximately $334,000.

Other hedge funds have also recently modified their holdings of the company. Capital International Investors raised its holdings in shares of Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company's stock worth $78,658,000 after purchasing an additional 597,537 shares during the period. Conestoga Capital Advisors LLC bought a new position in Crane NXT during the fourth quarter worth about $31,517,000. Norges Bank purchased a new position in shares of Crane NXT in the fourth quarter worth about $26,754,000. FMR LLC raised its position in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company's stock valued at $499,337,000 after purchasing an additional 336,765 shares during the period. Finally, Capital World Investors purchased a new stake in shares of Crane NXT during the 4th quarter valued at approximately $10,719,000. Institutional investors own 77.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CXT shares. Northland Securities downgraded Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a research report 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 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.33.

Crane NXT Price Performance

NYSE:CXT traded up $0.22 during trading hours on Friday, hitting $46.69. The stock had a trading volume of 361,240 shares, compared to its average volume of 382,655. The company has a 50 day simple moving average of $51.09 and a two-hundred day simple moving average of $56.49. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 14.64 and a beta of 1.21. 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 $41.54 and a one year high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.20 EPS 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%. Research analysts forecast 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. Stockholders of record on Friday, February 28th were issued a $0.17 dividend. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.46%. Crane NXT's dividend payout ratio 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.