Cetera Investment Advisers Buys 2,052 Shares of Crane NXT, Co. (NYSE:CXT)

Cetera Investment Advisers boosted its stake in shares of Crane NXT, Co. (NYSE:CXT) by 11.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,841 shares of the company’s stock after acquiring an additional 2,052 shares during the quarter. Cetera Investment Advisers’ holdings in Crane NXT were worth $1,020,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Crane NXT by 13.4% during the first quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company’s stock valued at $70,312,000 after buying an additional 161,417 shares during the period. Capital International Investors boosted its position in shares of Crane NXT by 79.3% during the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock valued at $78,658,000 after buying an additional 597,537 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Crane NXT by 12.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,229,469 shares of the company’s stock valued at $71,579,000 after buying an additional 136,810 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of Crane NXT by 95.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company’s stock valued at $59,470,000 after buying an additional 499,290 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its position in shares of Crane NXT by 83.5% during the first quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company’s stock valued at $51,048,000 after buying an additional 451,814 shares during the period. 77.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CXT. DA Davidson dropped their target price on Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, May 9th. UBS Group lowered their price target on Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.75.

Crane NXT Stock Up 1.0%

Shares of NYSE CXT opened at $60.18 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 22.97 and a beta of 1.33. The stock has a 50 day moving average price of $56.73 and a 200 day moving average price of $54.39. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.00.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $404.40 million during the quarter, compared to analyst estimates of $382.79 million. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. Sell-side analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Crane NXT’s payout ratio is 25.95%.

Crane NXT Company 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.