Congress Asset Management Co. Acquires 48,715 Shares of Crane NXT, Co. $CXT

Congress Asset Management Co. lifted its holdings in Crane NXT, Co. (NYSE:CXT) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,167,160 shares of the company’s stock after buying an additional 48,715 shares during the quarter. Congress Asset Management Co. owned about 2.03% of Crane NXT worth $78,281,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CXT. AlphaQuest LLC bought a new position in shares of Crane NXT in the second quarter worth about $25,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Crane NXT in the third quarter valued at approximately $34,000. EverSource Wealth Advisors LLC raised its position in Crane NXT by 4,080.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock worth $34,000 after purchasing an additional 612 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Crane NXT by 120.3% during the 1st quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $37,000 after buying an additional 391 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in Crane NXT by 9,087.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 735 shares of the company’s stock valued at $40,000 after buying an additional 727 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Performance

Shares of CXT stock opened at $47.10 on Friday. The stock has a market cap of $2.70 billion, a PE ratio of 17.57 and a beta of 1.18. The stock has a 50-day moving average of $59.36 and a 200-day moving average of $59.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.94. Crane NXT, Co. has a one year low of $41.54 and a one year high of $69.00.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, June 1st. The company reported $1.81 earnings per share (EPS) for the quarter. The firm had revenue of $871.50 million during the quarter. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. As a group, sell-side analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, November 28th. This represents a $0.68 annualized dividend and a yield of 1.4%. Crane NXT’s payout ratio is currently 25.37%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $85.00 price target on shares of Crane NXT in a research note on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, October 8th. Oppenheimer upped their target price on shares of Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. CJS Securities upgraded shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Robert W. Baird dropped their price target on shares of Crane NXT from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.80.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.