Capital World Investors Buys Shares of 184,114 Crane NXT, Co. (NYSE:CXT)

Capital World Investors purchased a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 184,114 shares of the company's stock, valued at approximately $10,719,000. Capital World Investors owned approximately 0.32% of Crane NXT at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CXT. Capital International Investors raised its position in Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company's stock valued at $78,658,000 after purchasing an additional 597,537 shares in the last quarter. Conestoga Capital Advisors LLC acquired a new stake in shares of Crane NXT during the 4th quarter worth about $31,517,000. Norges Bank acquired a new stake in shares of Crane NXT during the 4th quarter worth about $26,754,000. FMR LLC raised its position in shares of Crane NXT by 4.1% during the 4th quarter. FMR LLC now owns 8,576,731 shares of the company's stock worth $499,337,000 after acquiring an additional 336,765 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Crane NXT by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,229,469 shares of the company's stock worth $71,579,000 after acquiring an additional 136,810 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CXT. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Northland Securities lowered Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a research report 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.33.

Crane NXT Stock Performance

NYSE:CXT traded up $0.22 during mid-day trading on Friday, reaching $46.69. 361,240 shares of the stock were exchanged, compared to its average volume of 384,435. The company has a 50 day simple moving average of $50.84 and a 200-day simple moving average of $56.47. The stock has a market capitalization of $2.68 billion, a P/E ratio of 14.64 and a beta of 1.21. 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, Co. has a 1 year low of $41.54 and a 1 year high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were paid a $0.17 dividend. This is an increase from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT's dividend payout ratio (DPR) is 21.32%.

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.