3,853 Shares in Crane NXT, Co. (NYSE:CXT) Purchased by Inspire Advisors LLC

Inspire Advisors LLC purchased a new position in Crane NXT, Co. (NYSE:CXT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,853 shares of the company’s stock, valued at approximately $224,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp raised its position in Crane NXT by 1.6% in the third quarter. State Street Corp now owns 1,443,518 shares of the company’s stock worth $80,981,000 after purchasing an additional 22,041 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Crane NXT by 2.8% during the third quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock worth $68,372,000 after buying an additional 33,664 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Crane NXT by 6.4% during the third quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company’s stock worth $56,157,000 after buying an additional 60,468 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Crane NXT by 1.3% during the fourth quarter. Congress Asset Management Co. now owns 752,734 shares of the company’s stock worth $43,824,000 after buying an additional 9,921 shares in the last quarter. Finally, Conestoga Capital Advisors LLC acquired a new stake in shares of Crane NXT during the fourth quarter worth approximately $31,517,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CXT. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Northland Capmk lowered shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

Crane NXT Stock Performance

Shares of Crane NXT stock opened at $52.96 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The firm has a market cap of $3.03 billion, a P/E ratio of 16.60 and a beta of 1.32. The firm has a 50 day simple moving average of $60.18 and a 200 day simple moving average of $58.43. Crane NXT, Co. has a fifty-two week low of $52.89 and a fifty-two week high of $67.00.

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

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were issued a $0.17 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio (DPR) is currently 21.32%.

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.