Brevan Howard Capital Management LP Makes New $481,000 Investment in Crane NXT, Co. (NYSE:CXT)

Brevan Howard Capital Management LP acquired a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,259 shares of the company's stock, valued at approximately $481,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Crane NXT by 1.0% during the fourth quarter. Amalgamated Bank now owns 22,950 shares of the company's stock valued at $1,336,000 after buying an additional 233 shares during the period. Corient Private Wealth LLC boosted its position in Crane NXT by 1.2% during the fourth quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock worth $1,231,000 after acquiring an additional 254 shares during the last quarter. Cetera Trust Company N.A grew its stake in Crane NXT by 7.0% in the 4th quarter. Cetera Trust Company N.A now owns 4,198 shares of the company's stock worth $244,000 after acquiring an additional 275 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock valued at $32,000 after acquiring an additional 276 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Stock Up 0.0%

NYSE:CXT traded up $0.01 during mid-day trading on Tuesday, hitting $55.25. The company had a trading volume of 425,786 shares, compared to its average volume of 389,068. The business has a fifty day simple moving average of $49.18 and a 200-day simple moving average of $55.95. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 17.32 and a beta of 1.27. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

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

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, May 30th. Crane NXT's dividend payout ratio (DPR) is 23.37%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CXT. Northland Securities downgraded Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective for the company. in a research report on Tuesday, February 18th. Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. DA Davidson decreased their target price on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday. Finally, 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. 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, the company presently has an average rating of "Moderate Buy" and an average target price of $73.75.

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.