Park Avenue Securities LLC Acquires Shares of 12,000 Crane NXT, Co. $CXT

Park Avenue Securities LLC acquired a new stake in Crane NXT, Co. (NYSE:CXT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,000 shares of the company’s stock, valued at approximately $647,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Crane NXT by 16.2% in the first quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company’s stock valued at $188,584,000 after purchasing an additional 512,813 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Crane NXT by 13.4% in the first quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company’s stock valued at $70,312,000 after purchasing an additional 161,417 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Crane NXT by 173.3% in the first quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company’s stock valued at $55,750,000 after purchasing an additional 687,738 shares during the period. Invesco Ltd. boosted its stake in Crane NXT by 4.0% during the 1st quarter. Invesco Ltd. now owns 1,064,749 shares of the company’s stock valued at $54,728,000 after acquiring an additional 40,602 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake in 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 last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Price Performance

Shares of CXT opened at $65.07 on Monday. The firm has a market cap of $3.74 billion, a PE ratio of 24.84 and a beta of 1.37. The firm’s 50 day moving average price is $59.98 and its 200 day moving average price is $54.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.00.

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

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. Crane NXT’s payout ratio is currently 25.95%.

Analyst Ratings Changes

Separately, DA Davidson reiterated a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Crane NXT currently has an average rating of “Moderate Buy” and a consensus target price of $73.75.

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.