Teacher Retirement System of Texas Makes New Investment in Crane NXT, Co. (NYSE:CXT)

Teacher Retirement System of Texas purchased a new position in shares of Crane NXT, Co. (NYSE:CXT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,105 shares of the company’s stock, valued at approximately $365,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CXT. Bessemer Group Inc. increased its position in shares of Crane NXT by 4.1% during the 1st quarter. Bessemer Group Inc. now owns 363,799 shares of the company’s stock worth $18,700,000 after purchasing an additional 14,317 shares during the last quarter. Kirr Marbach & Co. LLC IN lifted its position in shares of Crane NXT by 2.3% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 96,913 shares of the company’s stock valued at $4,981,000 after acquiring an additional 2,157 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of Crane NXT by 83.5% during the 1st quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company’s stock valued at $51,048,000 after acquiring an additional 451,814 shares during the period. Fifth Third Bancorp raised its holdings in shares of Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock worth $42,000 after buying an additional 256 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company’s stock worth $36,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CXT shares. UBS Group reduced their price target on Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. DA Davidson cut their target price on Crane NXT from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

Crane NXT Stock Performance

Shares of CXT opened at $57.42 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 19.73 and a beta of 1.29. The stock has a 50 day moving average of $55.03 and a 200 day moving average of $54.89. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.01.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The business had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. During the same period last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT’s dividend payout ratio (DPR) is presently 23.37%.

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.