Vanguard Group Inc. Has $313.29 Million Position in Crane NXT, Co. (NYSE:CXT)

Vanguard Group Inc. reduced its position in shares of Crane NXT, Co. (NYSE:CXT) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,508,871 shares of the company’s stock after selling 6,996 shares during the period. Vanguard Group Inc. owned approximately 9.67% of Crane NXT worth $313,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in Crane NXT during the 4th quarter worth approximately $66,550,000. Congress Asset Management Co. MA bought a new position in Crane NXT during the 4th quarter worth $987,000. Keeley Teton Advisors LLC increased its stake in Crane NXT by 0.5% during the 4th quarter. Keeley Teton Advisors LLC now owns 123,561 shares of the company’s stock worth $7,027,000 after acquiring an additional 645 shares during the period. 1832 Asset Management L.P. bought a new position in Crane NXT during the 4th quarter worth $3,225,000. Finally, Capital International Investors increased its stake in Crane NXT by 22.5% during the 4th quarter. Capital International Investors now owns 466,615 shares of the company’s stock worth $26,536,000 after acquiring an additional 85,688 shares during the period. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CXT shares. 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 on the stock. DA Davidson raised their price objective on Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, March 18th.

Crane NXT Trading Up 2.2 %

Shares of CXT opened at $61.42 on Friday. Crane NXT, Co. has a 52-week low of $48.42 and a 52-week high of $64.80. The business’s fifty day moving average is $61.53 and its 200-day moving average is $59.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.56 and a current ratio of 2.12. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 19.38 and a beta of 1.35.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. The business had revenue of $313.60 million during the quarter, compared to the consensus estimate of $311.72 million. During the same quarter in the previous year, the business posted $0.96 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts anticipate that Crane NXT, Co. will post 4.3 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. Crane NXT’s payout ratio is 20.19%.

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.