Crane NXT, Co. (NYSE:CXT) Stake Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 185.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 180,409 shares of the company's stock after purchasing an additional 117,207 shares during the period. Envestnet Asset Management Inc. owned approximately 0.32% of Crane NXT worth $10,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Amalgamated Bank raised its holdings in Crane NXT by 1.0% in the 4th quarter. Amalgamated Bank now owns 22,950 shares of the company's stock worth $1,336,000 after purchasing an additional 233 shares during the period. Corient Private Wealth LLC boosted its stake 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 buying an additional 254 shares during the last quarter. Cetera Trust Company N.A raised its holdings 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 valued at $244,000 after buying an additional 275 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after acquiring an additional 276 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Crane NXT by 6.2% during the 4th quarter. Xponance Inc. now owns 5,587 shares of the company's stock worth $325,000 after acquiring an additional 328 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CXT shares. Northland Capmk cut shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target for the company. in a research note on Tuesday, February 18th. Two research 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.33.

Crane NXT Stock Up 2.4 %

Shares of CXT stock traded up $1.06 during trading hours on Thursday, reaching $45.61. The company had a trading volume of 52,570 shares, compared to its average volume of 380,967. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.01. The stock's fifty day simple moving average is $51.36 and its 200 day simple moving average is $56.54. The company has a market capitalization of $2.62 billion, a P/E ratio of 14.30 and a beta of 1.21.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.49%. This is an increase from Crane NXT's previous quarterly dividend of $0.16. 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.