GAMMA Investing LLC Acquires Shares of 1,926 Crane NXT, Co. (NYSE:CXT)

GAMMA Investing LLC acquired a new stake in Crane NXT, Co. (NYSE:CXT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,926 shares of the company’s stock, valued at approximately $112,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. purchased a new position in Crane NXT in the third quarter valued at $319,000. Hudson Bay Capital Management LP purchased a new position in Crane NXT in the third quarter valued at $3,319,000. Clearbridge Investments LLC purchased a new stake in shares of Crane NXT during the third quarter worth about $10,781,000. Swiss National Bank purchased a new stake in shares of Crane NXT during the third quarter worth about $5,890,000. Finally, Signaturefd LLC purchased a new stake in shares of Crane NXT during the third quarter worth about $109,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CXT shares. DA Davidson boosted their target price on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Northland Securities started coverage on shares of Crane NXT in a research note on Monday, April 8th. They set an “outperform” rating and a $91.00 target price for the company.

Crane NXT Stock Up 0.2 %

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

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

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were issued a $0.16 dividend. 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%. The ex-dividend date of this dividend was Wednesday, February 28th. Crane NXT’s dividend payout ratio is currently 19.57%.

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.