Crane NXT, Co. (NYSE:CXT) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in shares of Crane NXT, Co. (NYSE:CXT) by 0.3% in the fourth quarter, Holdings Channel reports. The fund owned 60,465 shares of the company’s stock after purchasing an additional 185 shares during the period. Retirement Systems of Alabama’s holdings in Crane NXT were worth $3,439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CXT. Acadian Asset Management LLC purchased a new stake in shares of Crane NXT during the third quarter worth approximately $28,000. New England Capital Financial Advisors LLC purchased a new position in Crane NXT during the 3rd quarter worth $36,000. CI Investments Inc. acquired a new stake in shares of Crane NXT in the 3rd quarter worth $53,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Crane NXT during the third quarter worth about $82,000. Finally, Simplex Trading LLC purchased a new stake in Crane NXT in the 3rd quarter valued at approximately $85,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. DA Davidson boosted 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. Northland Securities started coverage on Crane NXT in a research report on Monday, April 8th. They set an “outperform” rating and a $91.00 price target for the company.

Crane NXT Price Performance

Crane NXT stock opened at $62.68 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.93. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 19.17 and a beta of 1.36. Crane NXT, Co. has a 1 year low of $47.96 and a 1 year high of $63.89. The firm has a 50 day moving average price of $60.62 and a 200 day moving average price of $57.07.

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

Crane NXT Increases Dividend

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