Russell Investments Group Ltd. Acquires 14,266 Shares of Crane NXT, Co. (NYSE:CXT)

Russell Investments Group Ltd. lifted its holdings in Crane NXT, Co. (NYSE:CXT) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,485 shares of the company’s stock after acquiring an additional 14,266 shares during the period. Russell Investments Group Ltd.’s holdings in Crane NXT were worth $8,502,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CXT. FMR LLC bought a new position in Crane NXT in the 3rd quarter worth approximately $402,528,000. Vanguard Group Inc. purchased a new position in shares of Crane NXT in the third quarter worth $306,517,000. Victory Capital Management Inc. purchased a new position in shares of Crane NXT in the third quarter worth $65,919,000. Lord Abbett & CO. LLC bought a new position in shares of Crane NXT during the third quarter worth $39,749,000. Finally, Pacer Advisors Inc. grew its stake in Crane NXT by 8,855.4% during 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 in the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CXT. DA Davidson boosted their price target 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 Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 target price on the stock.

Crane NXT Trading Up 0.8 %

Shares of CXT opened at $62.04 on Tuesday. The stock has a market capitalization of $3.54 billion, a PE ratio of 18.97 and a beta of 1.36. The company’s fifty day moving average is $60.60 and its 200 day moving average is $57.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.93. Crane NXT, Co. has a fifty-two week low of $47.96 and a fifty-two week 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, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $340.89 million. During the same period in the previous year, the firm posted $2.13 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.03%. Crane NXT’s dividend payout ratio is 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.