Wellington Management Group LLP Boosts Stake in Crane NXT, Co. (NYSE:CXT)

Wellington Management Group LLP increased its position in Crane NXT, Co. (NYSE:CXT) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,156,140 shares of the company’s stock after purchasing an additional 72,992 shares during the quarter. Wellington Management Group LLP owned approximately 0.06% of Crane NXT worth $183,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CXT. Conestoga Capital Advisors LLC bought a new position in Crane NXT in the fourth quarter worth $31,517,000. Norges Bank purchased a new stake in shares of Crane NXT in the 4th quarter worth about $26,754,000. Potrero Capital Research LLC bought a new position in shares of Crane NXT in the 3rd quarter worth about $5,734,000. Royce & Associates LP lifted its position in Crane NXT by 35.7% during the 4th quarter. Royce & Associates LP now owns 376,421 shares of the company’s stock valued at $21,915,000 after acquiring an additional 98,936 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Crane NXT by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock worth $345,303,000 after acquiring an additional 66,800 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CXT shares. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a report on Tuesday, February 18th. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Crane NXT has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

Crane NXT Stock Up 1.2 %

Shares of Crane NXT stock opened at $52.13 on Thursday. The company has a 50-day simple moving average of $57.40 and a two-hundred day simple moving average of $58.00. The stock has a market capitalization of $2.98 billion, a PE ratio of 16.34 and a beta of 1.32. Crane NXT, Co. has a 52-week low of $50.23 and a 52-week high of $67.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were issued a dividend of $0.17 per share. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, February 28th. 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.