Balyasny Asset Management L.P. Makes New Investment in Crane NXT, Co. (NYSE:CXT)

Balyasny Asset Management L.P. purchased a new stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51,113 shares of the company's stock, valued at approximately $2,976,000. Balyasny Asset Management L.P. owned approximately 0.09% of Crane NXT as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC grew its stake 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 last quarter. Vanguard Group Inc. boosted its position in Crane NXT by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company's stock valued at $345,303,000 after acquiring an additional 66,800 shares in the last quarter. Wellington Management Group LLP boosted its position in Crane NXT by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company's stock valued at $183,750,000 after acquiring an additional 72,992 shares in the last quarter. Capital International Investors boosted its position in Crane NXT by 79.3% during the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company's stock valued at $78,658,000 after acquiring an additional 597,537 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Crane NXT by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,229,469 shares of the company's stock valued at $71,579,000 after acquiring an additional 136,810 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a research report on Tuesday, February 18th. UBS Group lowered their target price on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday. Northland Capmk lowered shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, DA Davidson lowered their target price on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Stock Up 0.6%

Shares of CXT stock traded up $0.35 during trading hours on Friday, hitting $55.33. 279,885 shares of the company's stock traded hands, compared to its average volume of 390,346. The stock's fifty day simple moving average is $49.30 and its two-hundred day simple moving average is $55.94. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.01. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 17.34 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The firm had revenue of $330.30 million during the quarter, compared to analyst estimates of $318.46 million. During the same period last year, the business earned $0.85 earnings per share. The business's revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be issued a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.23%. Crane NXT's payout ratio is currently 23.37%.

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.