Lord Abbett & CO. LLC lessened its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 19.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 317,556 shares of the company's stock after selling 74,523 shares during the period. Lord Abbett & CO. LLC owned 0.55% of Crane NXT worth $16,322,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors lifted its holdings in Crane NXT by 79.3% in the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company's stock valued at $78,658,000 after acquiring an additional 597,537 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in shares of Crane NXT by 95.6% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company's stock worth $59,470,000 after acquiring an additional 499,290 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Crane NXT by 83.5% in the 1st quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company's stock worth $51,048,000 after acquiring an additional 451,814 shares during the period. Capital World Investors acquired a new stake in shares of Crane NXT in the 4th quarter worth approximately $10,719,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Crane NXT by 13.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company's stock worth $70,312,000 after acquiring an additional 161,417 shares during the period. Hedge funds and other institutional investors own 77.49% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. DA Davidson reiterated a "buy" rating and set a $85.00 target price on shares of Crane NXT in a report on Monday. UBS Group reduced their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.75.
Check Out Our Latest Analysis on Crane NXT
Crane NXT Stock Performance
NYSE CXT traded down $0.10 during trading hours on Thursday, reaching $60.10. The company's stock had a trading volume of 71,332 shares, compared to its average volume of 423,143. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. 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 stock has a market cap of $3.45 billion, a PE ratio of 22.94 and a beta of 1.33. The business has a 50-day simple moving average of $57.41 and a 200 day simple moving average of $54.32.
Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The firm had revenue of $404.40 million for the quarter, compared to analyst estimates of $382.79 million. Equities research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.
Crane NXT Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Crane NXT's payout ratio is currently 25.95%.
About Crane NXT
(
Free Report)
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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