SG Americas Securities LLC Has $2.87 Million Position in Crane NXT, Co. $CXT

SG Americas Securities LLC boosted its stake in shares of Crane NXT, Co. (NYSE:CXT) by 432.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,990 shares of the company’s stock after purchasing an additional 49,533 shares during the period. SG Americas Securities LLC owned about 0.11% of Crane NXT worth $2,871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CXT. Smartleaf Asset Management LLC grew its holdings in shares of Crane NXT by 141.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Crane NXT during the third quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new stake in Crane NXT during the third quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Crane NXT during the third quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC grew its stake in Crane NXT by 4,080.0% in the second quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $34,000 after purchasing an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

NYSE CXT opened at $40.15 on Friday. Crane NXT, Co. has a fifty-two week low of $39.23 and a fifty-two week high of $69.00. The stock’s 50-day moving average is $47.56 and its two-hundred day moving average is $54.13. The firm has a market cap of $2.31 billion, a P/E ratio of 15.99 and a beta of 1.21. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.02. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The company had revenue of $476.90 million during the quarter, compared to the consensus estimate of $450.53 million. During the same quarter in the prior year, the company posted $1.20 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. On average, analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.8%. This is a boost from Crane NXT’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 27th. Crane NXT’s dividend payout ratio is 28.69%.

Analysts Set New Price Targets

Several research analysts have weighed in on CXT shares. DA Davidson reaffirmed a “buy” rating and issued a $85.00 target price on shares of Crane NXT in a research report on Tuesday, February 17th. Robert W. Baird set a $73.00 price target on Crane NXT in a research note on Friday, February 13th. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. Finally, Northland Securities set a $62.00 target price on shares of Crane NXT in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.60.

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