Victory Capital Management Inc. Raises Position in Crane NXT, Co. (NYSE:CXT)

Victory Capital Management Inc. increased its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,218,761 shares of the company's stock after purchasing an additional 33,664 shares during the quarter. Victory Capital Management Inc. owned approximately 2.13% of Crane NXT worth $68,372,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in Crane NXT by 93.4% during the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company's stock worth $69,716,000 after acquiring an additional 548,155 shares in the last quarter. Capital International Investors grew its stake in Crane NXT by 40.0% in the first quarter. Capital International Investors now owns 653,052 shares of the company's stock valued at $40,424,000 after purchasing an additional 186,437 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Crane NXT by 97.0% during the 2nd quarter. Hsbc Holdings PLC now owns 247,842 shares of the company's stock worth $15,222,000 after acquiring an additional 122,056 shares during the period. Congress Asset Management Co. boosted its stake in Crane NXT by 18.3% in the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company's stock valued at $41,672,000 after purchasing an additional 114,707 shares during the period. Finally, Kirr Marbach & Co. LLC IN acquired a new position in Crane NXT in the 2nd quarter valued at $3,565,000. 77.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on CXT shares. Robert W. Baird upped their target price on Crane NXT from $77.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Baird R W raised Crane NXT to a "strong-buy" rating in a report on Thursday, October 17th. DA Davidson reiterated a "buy" rating and issued a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Finally, Northland Securities lowered their price target on Crane NXT from $96.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th.

Crane NXT Price Performance

Crane NXT stock traded up $0.17 during mid-day trading on Friday, hitting $55.46. The stock had a trading volume of 77,017 shares, compared to its average volume of 347,335. The firm has a market capitalization of $3.17 billion, a P/E ratio of 18.13 and a beta of 1.33. 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 firm's 50 day moving average is $56.04 and its 200 day moving average is $58.53. Crane NXT, Co. has a one year low of $50.31 and a one year high of $64.80.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share 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 company had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. During the same period in the prior year, the company posted $1.09 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, November 29th. Crane NXT's dividend payout ratio (DPR) is 20.98%.

Crane NXT Company 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.