Congress Asset Management Co. Has $40.94 Million Stake in Crane NXT, Co. (NYSE:CXT)

Congress Asset Management Co. raised its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 796,412 shares of the company's stock after acquiring an additional 43,678 shares during the quarter. Congress Asset Management Co. owned about 1.39% of Crane NXT worth $40,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CXT. Barclays PLC raised its holdings in Crane NXT by 45.3% in the third quarter. Barclays PLC now owns 37,663 shares of the company's stock worth $2,113,000 after purchasing an additional 11,734 shares during the period. Norges Bank acquired a new stake in Crane NXT in the fourth quarter worth $26,754,000. Sei Investments Co. raised its holdings in Crane NXT by 15.0% in the fourth quarter. Sei Investments Co. now owns 143,307 shares of the company's stock worth $8,343,000 after purchasing an additional 18,735 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Crane NXT by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 460,143 shares of the company's stock worth $26,790,000 after purchasing an additional 15,280 shares during the period. Finally, Amundi acquired a new stake in Crane NXT in the fourth quarter worth $486,000. 77.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

CXT has been the topic of several analyst reports. UBS Group cut their target price on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. DA Davidson dropped their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Northland Capmk lowered shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a report on Tuesday, February 18th. Three investment 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's stock. According to data from MarketBeat, Crane NXT currently has an average rating of "Moderate Buy" and a consensus target price of $73.75.

Crane NXT Stock Up 1.4%

Crane NXT stock traded up $0.78 during mid-day trading on Monday, reaching $54.87. The company's stock had a trading volume of 19,929 shares, compared to its average volume of 395,288. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 17.21 and a beta of 1.30. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.01. The business's 50 day simple moving average is $49.36 and its 200 day simple moving average is $55.69. 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 (NYSE:CXT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The company had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. During the same quarter last year, the firm posted $0.85 EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, May 30th. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

Crane NXT Company 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.