LPL Financial LLC Purchases 9,617 Shares of Crane NXT, Co. (NYSE:CXT)

LPL Financial LLC grew its stake in Crane NXT, Co. (NYSE:CXT) by 18.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,611 shares of the company’s stock after acquiring an additional 9,617 shares during the period. LPL Financial LLC owned 0.11% of Crane NXT worth $3,115,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors lifted its position in 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 acquiring an additional 597,537 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in 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. Conestoga Capital Advisors LLC increased its holdings in Crane NXT by 83.5% in 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 in the last quarter. Capital World Investors acquired a new position in shares of Crane NXT during the 4th quarter worth approximately $10,719,000. Finally, Victory Capital Management Inc. raised its stake in shares of Crane NXT by 13.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company’s stock worth $70,312,000 after buying an additional 161,417 shares during the period. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Trading Down 1.5%

Shares of NYSE:CXT opened at $59.46 on Friday. The company’s 50 day moving average is $57.14 and its two-hundred day moving average is $54.33. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The company has a market cap of $3.41 billion, a PE ratio of 22.69 and a beta of 1.33.

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

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT’s dividend payout ratio (DPR) is currently 25.95%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CXT. UBS Group reduced their target price on Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. DA Davidson lowered their price target on shares of 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 investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Crane NXT currently has an average rating of “Moderate Buy” and an average target price of $73.75.

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.