First Trust Advisors LP Acquires 65,333 Shares of Crane NXT, Co. (NYSE:CXT)

First Trust Advisors LP increased its holdings in shares of Crane NXT, Co. (NYSE:CXTFree Report) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 473,808 shares of the company’s stock after buying an additional 65,333 shares during the quarter. First Trust Advisors LP owned 0.83% of Crane NXT worth $26,945,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of Crane NXT in the third quarter worth about $28,000. CI Investments Inc. acquired a new stake in Crane NXT in the third quarter valued at approximately $53,000. Assetmark Inc. grew its stake in shares of Crane NXT by 9,630.0% during the fourth quarter. Assetmark Inc. now owns 973 shares of the company’s stock worth $55,000 after buying an additional 963 shares during the last quarter. EMC Capital Management acquired a new position in shares of Crane NXT during the third quarter worth $89,000. Finally, USA Financial Formulas bought a new position in shares of Crane NXT in the 3rd quarter valued at $105,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CXT shares. DA Davidson upped their target price on 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 note on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective for the company.

Check Out Our Latest Analysis on CXT

Crane NXT Price Performance

CXT stock opened at $60.98 on Tuesday. The company has a fifty day moving average price of $61.18 and a 200-day moving average price of $58.72. The company has a market capitalization of $3.48 billion, a P/E ratio of 19.24 and a beta of 1.35. Crane NXT, Co. has a 52-week low of $48.42 and a 52-week high of $63.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.56 and a current ratio of 2.12.

Crane NXT (NYSE:CXTGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $313.60 million for the quarter, compared to the consensus estimate of $311.72 million. Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. Crane NXT’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. As a group, equities analysts expect that Crane NXT, Co. will post 4.3 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, May 31st. Crane NXT’s payout ratio is currently 20.19%.

Crane NXT Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crane NXT (NYSE:CXT)

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