42,891 Shares in Crane NXT, Co. $CXT Purchased by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC acquired 42,891 shares of Crane NXT, valued at approximately $2.31 million, representing about 0.07% ownership of the company.
• Crane NXT reported a quarterly EPS of $0.97, exceeding analysts' expectations, alongside a revenue of $404.40 million for the same period.
• Analysts have given Crane NXT an average rating of “Moderate Buy” with a target price of $73.75.

Exchange Traded Concepts LLC purchased a new position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 42,891 shares of the company's stock, valued at approximately $2,312,000. Exchange Traded Concepts LLC owned about 0.07% of Crane NXT as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG boosted its holdings in Crane NXT by 3.0% during the fourth quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock worth $339,000 after purchasing an additional 168 shares during the last quarter. FourThought Financial Partners LLC boosted its stake in Crane NXT by 4.6% in the first quarter. FourThought Financial Partners LLC now owns 4,909 shares of the company's stock valued at $252,000 after acquiring an additional 216 shares during the last quarter. Fifth Third Bancorp boosted its stake in Crane NXT by 46.0% in the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock valued at $42,000 after acquiring an additional 256 shares during the last quarter. UMB Bank n.a. boosted its stake in Crane NXT by 87.2% in the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after acquiring an additional 327 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in Crane NXT by 8.0% in the first quarter. EP Wealth Advisors LLC now owns 4,682 shares of the company's stock valued at $241,000 after acquiring an additional 346 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson reiterated a "buy" rating and issued a $85.00 target price on shares of Crane NXT in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Stock Performance

Crane NXT stock opened at $56.41 on Monday. The firm's 50 day simple moving average is $59.43 and its 200 day simple moving average is $54.49. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.24 billion, a PE ratio of 21.53 and a beta of 1.37. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.00.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. The firm had revenue of $404.40 million for the quarter, compared to analyst estimates of $382.79 million. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. As a group, analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%. Crane NXT's dividend payout ratio is presently 25.95%.

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.

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