Oak Thistle LLC Buys Shares of 3,480 Crane NXT, Co. (NYSE:CXT)

Oak Thistle LLC purchased a new position in Crane NXT, Co. (NYSE:CXT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,480 shares of the company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also made changes to their positions in CXT. Wilmington Savings Fund Society FSB acquired a new position in Crane NXT in the 3rd quarter valued at about $32,000. nVerses Capital LLC acquired a new position in shares of Crane NXT in the third quarter valued at approximately $45,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Crane NXT by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after buying an additional 265 shares during the period. GAMMA Investing LLC boosted its position in Crane NXT by 17.4% during the third quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock worth $144,000 after acquiring an additional 380 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Crane NXT in the 3rd quarter worth approximately $181,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Price Performance

Shares of Crane NXT stock opened at $63.72 on Friday. The business’s fifty day moving average price is $59.64 and its 200 day moving average price is $58.10. Crane NXT, Co. has a twelve month low of $52.89 and a twelve month high of $65.14. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.64 billion, a P/E ratio of 20.89 and a beta of 1.35.

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

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, November 29th. Crane NXT’s dividend payout ratio is presently 20.98%.

Analysts Set New Price Targets

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

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.