Raymond James Financial Inc. Acquires New Holdings in Crane NXT, Co. (NYSE:CXT)

Raymond James Financial Inc. bought a new position in shares of Crane NXT, Co. (NYSE:CXT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 44,322 shares of the company’s stock, valued at approximately $2,580,000.

Several other hedge funds have also recently bought and sold shares of the stock. Stifel Financial Corp grew its holdings in shares of Crane NXT by 60.6% in the 3rd quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock valued at $2,448,000 after acquiring an additional 16,465 shares in the last quarter. Park Avenue Securities LLC bought a new position in Crane NXT in the fourth quarter valued at approximately $527,000. Barclays PLC increased its position in shares of Crane NXT by 45.3% during the 3rd quarter. Barclays PLC now owns 37,663 shares of the company’s stock worth $2,113,000 after purchasing an additional 11,734 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Crane NXT by 12.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock worth $22,224,000 after purchasing an additional 43,439 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Crane NXT by 437.3% in the 3rd quarter. Jane Street Group LLC now owns 67,092 shares of the company’s stock valued at $3,764,000 after buying an additional 54,606 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CXT. Northland Capmk downgraded shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities cut Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.33.

Crane NXT Price Performance

Crane NXT stock opened at $51.32 on Friday. The stock has a 50-day moving average price of $58.21 and a two-hundred day moving average price of $58.12. Crane NXT, Co. has a 12 month low of $50.87 and a 12 month high of $67.01. The company has a market capitalization of $2.94 billion, a PE ratio of 16.09 and a beta of 1.32. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were issued a $0.17 dividend. This is a boost 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 1.33%. The ex-dividend date was Friday, February 28th. Crane NXT’s dividend payout ratio (DPR) is currently 21.32%.

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.