Cetera Investment Advisers Raises Stake in Crane NXT, Co. (NYSE:CXT)

Cetera Investment Advisers boosted its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 176.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 17,789 shares of the company's stock after acquiring an additional 11,349 shares during the period. Cetera Investment Advisers' holdings in Crane NXT were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CXT. Covestor Ltd increased its position in Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after purchasing an additional 206 shares during the last quarter. Amalgamated Bank boosted its stake in Crane NXT by 1.0% during the fourth quarter. Amalgamated Bank now owns 22,950 shares of the company's stock worth $1,336,000 after buying 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 period. Fifth Third Bancorp boosted its stake in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after buying an additional 276 shares during the period. Finally, Xponance Inc. boosted its stake in Crane NXT by 6.2% during the fourth quarter. Xponance Inc. now owns 5,587 shares of the company's stock worth $325,000 after buying an additional 328 shares during the period. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Stock Down 1.0%

CXT stock traded down $0.54 during midday trading on Wednesday, reaching $53.50. 132,738 shares of the company were exchanged, compared to its average volume of 391,833. 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 1-year low of $41.54 and a 1-year high of $67.01. The stock's 50-day simple moving average is $49.15 and its 200 day simple moving average is $55.84. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 16.82 and a beta of 1.27.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share 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 analysts' expectations 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 for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. On average, equities analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be issued a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. Crane NXT's payout ratio is 23.37%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CXT shares. DA Davidson lowered their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Northland Securities lowered shares of 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. UBS Group decreased their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.