Wellington Management Group LLP Has $183.75 Million Stock Position in Crane NXT, Co. (NYSE:CXT)

Wellington Management Group LLP increased its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,156,140 shares of the company's stock after buying an additional 72,992 shares during the quarter. Wellington Management Group LLP owned about 5.51% of Crane NXT worth $183,750,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CXT. Cornercap Investment Counsel Inc. grew its stake in shares of Crane NXT by 83.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 7,714 shares of the company's stock worth $449,000 after purchasing an additional 3,507 shares in the last quarter. Level Four Advisory Services LLC lifted its holdings in Crane NXT by 62.5% in the fourth quarter. Level Four Advisory Services LLC now owns 25,208 shares of the company's stock worth $1,468,000 after purchasing an additional 9,700 shares during the period. Norges Bank acquired a new stake in Crane NXT in the fourth quarter worth about $26,754,000. Loomis Sayles & Co. L P grew its position in Crane NXT by 2.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 384,487 shares of the company's stock valued at $22,385,000 after buying an additional 7,399 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Crane NXT by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company's stock valued at $345,303,000 after buying an additional 66,800 shares during the period. 77.49% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target for the company. 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 report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Crane NXT currently has an average rating of "Moderate Buy" and a consensus target price of $83.33.

Crane NXT Price Performance

Shares of NYSE:CXT traded down $1.82 during trading hours on Friday, hitting $45.05. 722,575 shares of the company's stock traded hands, compared to its average volume of 377,116. The company's fifty day simple moving average is $56.66 and its two-hundred day simple moving average is $57.83. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 14.12 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. Crane NXT, Co. has a 52 week low of $42.83 and a 52 week high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates 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 anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. Crane NXT's payout ratio is 21.32%.

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.