Quantbot Technologies LP Has $1.35 Million Stake in Crane NXT, Co. (NYSE:CXT)

Quantbot Technologies LP lifted its holdings in Crane NXT, Co. (NYSE:CXT) by 296.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,065 shares of the company’s stock after acquiring an additional 18,002 shares during the quarter. Quantbot Technologies LP’s holdings in Crane NXT were worth $1,350,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Pacer Advisors Inc. increased its position in Crane NXT by 93.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after acquiring an additional 548,155 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Crane NXT by 97.0% in the second quarter. Hsbc Holdings PLC now owns 247,842 shares of the company’s stock valued at $15,222,000 after purchasing an additional 122,056 shares in the last quarter. Congress Asset Management Co. raised its position in Crane NXT by 18.3% in the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock worth $41,672,000 after purchasing an additional 114,707 shares during the last quarter. Kirr Marbach & Co. LLC IN acquired a new position in Crane NXT during the 2nd quarter worth $3,565,000. Finally, Intech Investment Management LLC bought a new position in Crane NXT in the 2nd quarter valued at $2,714,000. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CXT. DA Davidson reaffirmed a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Northland Securities cut their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird raised their target price on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th.

Crane NXT Price Performance

Shares of CXT opened at $62.68 on Friday. The stock has a market cap of $3.58 billion, a P/E ratio of 20.55 and a beta of 1.33. Crane NXT, Co. has a 1 year low of $50.31 and a 1 year high of $64.80. The stock’s 50-day moving average price is $56.55 and its two-hundred day moving average price is $58.41. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. On average, equities analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.02%. Crane NXT’s dividend payout ratio is presently 20.98%.

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.