Bessemer Group Inc. Boosts Stock Position in Crane NXT, Co. (NYSE:CXT)

Bessemer Group Inc. increased its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,799 shares of the company's stock after acquiring an additional 14,317 shares during the period. Bessemer Group Inc. owned about 0.63% of Crane NXT worth $18,700,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CXT. Park Square Financial Group LLC bought a new position in shares of Crane NXT in the fourth quarter valued at approximately $26,000. UMB Bank n.a. grew its holdings in shares of 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 in the last quarter. Quarry LP bought a new position in shares of Crane NXT in the fourth quarter valued at approximately $42,000. Fifth Third Bancorp grew its holdings in shares of 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 in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Crane NXT by 38.6% in the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after acquiring an additional 206 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CXT has been the topic of several research analyst reports. UBS Group dropped their price objective on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. DA Davidson reduced their price objective on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crane NXT currently has an average rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Performance

NYSE CXT traded down $1.77 on Friday, hitting $53.81. 891,075 shares of the stock traded hands, compared to its average volume of 409,410. The business's fifty day moving average is $52.10 and its two-hundred day moving average is $55.11. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.01. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 18.49 and a beta of 1.30. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.20.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $330.30 million during the quarter, compared to analyst estimates of $318.46 million. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. Crane NXT's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. As a group, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. Crane NXT's dividend payout ratio is currently 23.37%.

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.