Crane NXT, Co. (NYSE:CXT) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,465 shares of the company’s stock after buying an additional 185 shares during the period. Retirement Systems of Alabama owned approximately 0.11% of Crane NXT worth $3,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Radnor Capital Management LLC raised its position in Crane NXT by 2.8% during the fourth quarter. Radnor Capital Management LLC now owns 16,780 shares of the company’s stock valued at $954,000 after acquiring an additional 460 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Crane NXT in the 3rd quarter valued at $28,000. New England Capital Financial Advisors LLC purchased a new stake in Crane NXT during the third quarter worth $36,000. CI Investments Inc. acquired a new stake in Crane NXT during the third quarter valued at $53,000. Finally, Linden Thomas Advisory Services LLC increased its holdings in Crane NXT by 18.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,209 shares of the company’s stock valued at $467,000 after buying an additional 1,266 shares in the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. DA Davidson increased their target price on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Northland Securities started coverage on Crane NXT in a research report on Monday, April 8th. They set an “outperform” rating and a $91.00 price target on the stock.

Crane NXT Stock Up 1.0 %

Shares of NYSE CXT opened at $62.68 on Wednesday. Crane NXT, Co. has a 52-week low of $47.96 and a 52-week high of $63.89. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66. The company’s 50-day simple moving average is $60.62 and its 200-day simple moving average is $57.07. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 19.17 and a beta of 1.36.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $340.89 million. During the same period in the previous year, the firm posted $2.13 EPS. Crane NXT’s revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

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

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.