Baird Financial Group Inc. Acquires 5,402 Shares of Crane NXT, Co. (NYSE:CXT)

Baird Financial Group Inc. grew its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,994 shares of the company's stock after purchasing an additional 5,402 shares during the quarter. Baird Financial Group Inc. owned about 0.08% of Crane NXT worth $2,561,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. boosted its holdings in Crane NXT by 49.7% in the fourth quarter. Benjamin Edwards Inc. now owns 12,959 shares of the company's stock worth $755,000 after acquiring an additional 4,301 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Crane NXT in the 4th quarter worth approximately $1,597,000. Ameriprise Financial Inc. grew its stake in Crane NXT by 9.8% in the 4th quarter. Ameriprise Financial Inc. now owns 396,887 shares of the company's stock valued at $23,104,000 after purchasing an additional 35,388 shares during the period. ArrowMark Colorado Holdings LLC increased its position in Crane NXT by 6.0% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 107,885 shares of the company's stock worth $6,281,000 after buying an additional 6,063 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Crane NXT by 179.8% in the fourth quarter. Comerica Bank now owns 57,019 shares of the company's stock worth $3,320,000 after purchasing an additional 36,639 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

Crane NXT Price Performance

NYSE CXT traded up $0.17 during trading hours on Thursday, reaching $55.18. 253,567 shares of the stock traded hands, compared to its average volume of 388,808. The stock has a 50 day simple moving average of $49.23 and a two-hundred day simple moving average of $55.94. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 17.30 and a beta of 1.27.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (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 business had revenue of $330.30 million during the quarter, compared to analyst estimates of $318.46 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Crane NXT's revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts predict that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on CXT shares. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. DA Davidson cut their price target 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. UBS Group lowered their price objective on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, 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 note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $73.75.

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.