3,828 Shares in Crane NXT, Co. (NYSE:CXT) Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new stake in Crane NXT, Co. (NYSE:CXT) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,828 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC bought a new stake in Crane NXT in the third quarter valued at $402,528,000. Vanguard Group Inc. bought a new stake in Crane NXT in the 3rd quarter valued at about $306,517,000. Victory Capital Management Inc. acquired a new position in Crane NXT during the 3rd quarter worth approximately $65,919,000. Lord Abbett & CO. LLC bought a new position in Crane NXT in the third quarter worth approximately $39,749,000. Finally, Pacer Advisors Inc. grew its stake in Crane NXT by 8,855.4% in the fourth quarter. Pacer Advisors Inc. now owns 705,688 shares of the company’s stock valued at $40,132,000 after acquiring an additional 697,808 shares during the period. 77.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CXT has been the topic of a number of research reports. Northland Securities began coverage on Crane NXT in a research report on Monday, April 8th. They set an “outperform” rating and a $91.00 target price on the stock. DA Davidson upped their price objective on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, March 18th.

Crane NXT Stock Up 0.2 %

Shares of NYSE:CXT opened at $62.65 on Monday. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 19.16 and a beta of 1.37. The business’s 50 day moving average is $60.42 and its 200 day moving average is $56.71. Crane NXT, Co. has a 12-month low of $46.14 and a 12-month high of $63.89. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66.

Crane NXT (NYSE:CXT) last posted its earnings results on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The firm had revenue of $356.90 million during the quarter, compared to analyst estimates of $340.89 million. During the same quarter in the prior year, the business posted $2.13 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.02%. Crane NXT’s dividend payout ratio is currently 19.57%.

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.