Ancora Advisors LLC Has $17.66 Million Position in Crane NXT, Co. (NYSE:CXT)

Ancora Advisors LLC lessened its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 303,276 shares of the company's stock after selling 23,498 shares during the quarter. Ancora Advisors LLC owned approximately 0.53% of Crane NXT worth $17,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of CXT. Barclays PLC boosted its position in shares of Crane NXT by 45.3% during the third quarter. Barclays PLC now owns 37,663 shares of the company's stock valued at $2,113,000 after purchasing an additional 11,734 shares in the last quarter. Virtu Financial LLC acquired a new position in Crane NXT during the third quarter worth $377,000. Wilmington Savings Fund Society FSB acquired a new stake in Crane NXT during the third quarter worth about $32,000. Lord Abbett & CO. LLC raised its holdings in shares of Crane NXT by 12.3% during the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company's stock worth $22,224,000 after purchasing an additional 43,439 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new position in Crane NXT in the 4th quarter worth about $473,000. 77.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective for the company. in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Crane NXT has a consensus rating of "Moderate Buy" and a consensus target price of $83.33.

Crane NXT Trading Up 6.2 %

NYSE:CXT traded up $2.96 during trading hours on Thursday, hitting $50.60. 297,842 shares of the company were exchanged, compared to its average volume of 386,390. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 15.86 and a beta of 1.27. The company has a fifty day simple moving average of $49.23 and a 200 day simple moving average of $56.00. Crane NXT, Co. has a one year low of $41.54 and a one 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $330.30 million for the quarter, compared to the consensus estimate of $318.46 million. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Sell-side analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT's payout ratio is 21.32%.

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.