Crane NXT, Co. (NYSE:CXT) Stake Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Crane NXT, Co. (NYSE:CXT) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 460,143 shares of the company’s stock after purchasing an additional 15,280 shares during the period. Charles Schwab Investment Management Inc. owned 0.80% of Crane NXT worth $26,790,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Crane NXT during the 3rd quarter valued at $32,000. Fifth Third Bancorp increased its position in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after buying an additional 276 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Crane NXT by 985.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock valued at $95,000 after buying an additional 1,488 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Crane NXT in the third quarter worth about $181,000. Finally, Oak Thistle LLC bought a new stake in shares of Crane NXT during the 4th quarter worth about $203,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $55.27 on Tuesday. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 17.33 and a beta of 1.32. The business has a 50 day moving average price of $59.85 and a 200 day moving average price of $58.34. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a twelve month low of $52.05 and a twelve month high of $67.01.

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

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.23%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT’s dividend payout ratio (DPR) is currently 21.32%.

Wall Street Analysts Forecast Growth

CXT has been the topic of a number of recent analyst reports. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research note on Tuesday, February 18th. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.33.

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.