Crane NXT, Co. (NYSE:CXT) Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Crane NXT, Co. (NYSE:CXT) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000,796 shares of the company’s stock after purchasing an additional 60,468 shares during the period. Geode Capital Management LLC’s holdings in Crane NXT were worth $56,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CXT. State Street Corp lifted its stake in Crane NXT by 1.6% in the 3rd quarter. State Street Corp now owns 1,443,518 shares of the company’s stock worth $80,981,000 after acquiring an additional 22,041 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Crane NXT by 2.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock valued at $68,372,000 after purchasing an additional 33,664 shares during the period. Pacer Advisors Inc. lifted its position in shares of Crane NXT by 93.4% in the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock worth $69,716,000 after purchasing an additional 548,155 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Crane NXT by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock worth $66,626,000 after purchasing an additional 33,460 shares during the period. Finally, Congress Asset Management Co. grew its position in Crane NXT by 18.3% during the third quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock valued at $41,672,000 after purchasing an additional 114,707 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Stock Performance

Shares of NYSE CXT opened at $56.44 on Monday. The business’s 50-day simple moving average is $57.95 and its 200-day simple moving average is $58.29. Crane NXT, Co. has a 52 week low of $52.89 and a 52 week high of $64.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 18.50 and a beta of 1.34.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. As a group, equities research analysts expect that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. DA Davidson reiterated a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research report on Monday, September 30th. Robert W. Baird upped their target price on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Baird R W upgraded Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Northland Securities cut their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th.

Crane NXT 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.