Sanctuary Advisors LLC Invests $297,000 in Crane NXT, Co. (NYSE:CXT)

Sanctuary Advisors LLC purchased a new position in shares of Crane NXT, Co. (NYSE:CXT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,743 shares of the company’s stock, valued at approximately $297,000.

Other hedge funds have also bought and sold shares of the company. LRI Investments LLC purchased a new position in Crane NXT in the 1st quarter valued at approximately $38,000. Hobbs Group Advisors LLC purchased a new position in Crane NXT in the 2nd quarter valued at approximately $52,000. Blue Trust Inc. grew its stake in Crane NXT by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after buying an additional 205 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Crane NXT by 154.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock valued at $100,000 after buying an additional 984 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Crane NXT by 9.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after buying an additional 195 shares in the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Stock Up 0.5 %

Shares of NYSE:CXT opened at $58.21 on Friday. The firm has a fifty day moving average price of $56.80 and a two-hundred day moving average price of $59.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. Crane NXT, Co. has a one year low of $48.42 and a one year high of $64.80. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 18.36 and a beta of 1.32.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The firm had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. During the same period last year, the firm earned $1.12 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Crane NXT, Co. will post 4.28 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, August 30th. Crane NXT’s dividend payout ratio is currently 20.19%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CXT. Northland Securities reduced their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research note on Thursday. DA Davidson reiterated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Finally, Robert W. Baird started coverage on shares of Crane NXT in a report on Thursday. They issued an “outperform” rating and a $77.00 price target for the company.

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.