Capital World Investors Takes $10.72 Million Position in Crane NXT, Co. (NYSE:CXT)

Capital World Investors purchased a new position in shares of Crane NXT, Co. (NYSE:CXT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 184,114 shares of the company’s stock, valued at approximately $10,719,000. Capital World Investors owned 0.32% of Crane NXT as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Capital International Investors raised its position in shares of Crane NXT by 79.3% in 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 in the last quarter. Conestoga Capital Advisors LLC bought a new stake in shares of Crane NXT during the 4th quarter valued at $31,517,000. Norges Bank acquired a new stake in shares of Crane NXT during the 4th quarter worth $26,754,000. FMR LLC increased its position in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after purchasing an additional 336,765 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Crane NXT by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,229,469 shares of the company’s stock valued at $71,579,000 after purchasing an additional 136,810 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CXT. Northland Capmk downgraded shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Northland Securities cut shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Trading Down 2.8 %

CXT opened at $43.41 on Tuesday. The company has a market cap of $2.49 billion, a P/E ratio of 13.61 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $51.93 and its 200-day moving average is $56.71. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.01.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Equities research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio is presently 21.32%.

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.