State of New Jersey Common Pension Fund D Raises Stock Holdings in Crane NXT, Co. (NYSE:CXT)

State of New Jersey Common Pension Fund D boosted its holdings in Crane NXT, Co. (NYSE:CXT) by 16.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,021 shares of the company’s stock after buying an additional 7,017 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of Crane NXT worth $2,788,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. CWM LLC bought a new stake in shares of Crane NXT during the 3rd quarter valued at about $28,000. Acadian Asset Management LLC bought a new stake in shares of Crane NXT during the 3rd quarter valued at about $28,000. New England Capital Financial Advisors LLC bought a new stake in shares of Crane NXT during the 3rd quarter valued at about $36,000. CI Investments Inc. bought a new stake in shares of Crane NXT during the 3rd quarter valued at about $53,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Crane NXT during the 3rd quarter valued at about $82,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Down 0.1 %

Shares of NYSE:CXT opened at $62.59 on Tuesday. The stock has a 50 day moving average of $60.50 and a 200 day moving average of $56.77. The company has a market cap of $3.57 billion, a PE ratio of 19.14 and a beta of 1.37. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66. Crane NXT, Co. has a 12-month low of $46.14 and a 12-month high of $63.89.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The company had revenue of $356.90 million during the quarter, compared to the consensus estimate of $340.89 million. During the same period in the previous year, the company posted $2.13 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.02%. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, February 28th. Crane NXT’s dividend payout ratio is presently 19.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CXT shares. DA Davidson boosted their price objective on Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Northland Securities started coverage on Crane NXT in a research note on Monday, April 8th. They set an “outperform” rating and a $91.00 price objective for the company.

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.