CW Advisors LLC Boosts Holdings in Crane NXT, Co. $CXT

Key Points

• CW Advisors LLC increased its stake in Crane NXT by 5.0%, owning approximately 0.20% of the company and worth $5.8 million.
• Several institutions have also increased their positions, with hedge funds collectively owning 77.49% of Crane NXT's shares.
• Crane NXT recently declared a $0.17 quarterly dividend, providing a yield of 1.1%, with a payout ratio of 25.95%.

CW Advisors LLC boosted its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,802 shares of the company's stock after acquiring an additional 5,373 shares during the quarter. CW Advisors LLC owned 0.20% of Crane NXT worth $5,849,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Fifth Third Bancorp raised its stake in shares of Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after buying an additional 256 shares during the period. GAMMA Investing LLC raised its position in Crane NXT by 5,320.8% during the first quarter. GAMMA Investing LLC now owns 133,948 shares of the company's stock worth $6,885,000 after acquiring an additional 131,477 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Crane NXT by 46.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company's stock valued at $381,000 after purchasing an additional 2,074 shares in the last quarter. UMB Bank n.a. grew its position 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 purchasing an additional 327 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Crane NXT by 18.9% during the first quarter. LPL Financial LLC now owns 60,611 shares of the company's stock worth $3,115,000 after purchasing an additional 9,617 shares in the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.

Analyst Upgrades and Downgrades

CXT has been the topic of several research reports. UBS Group decreased their target price on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. DA Davidson reiterated a "buy" rating and set a $85.00 price target on shares of Crane NXT in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Crane NXT presently has an average rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Down 1.5%

CXT stock traded down $0.92 during mid-day trading on Thursday, reaching $60.08. The company had a trading volume of 82,504 shares, compared to its average volume of 423,311. The firm has a fifty day simple moving average of $58.06 and a 200 day simple moving average of $54.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 22.93 and a beta of 1.33. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.00.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating 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 analysts' expectations of $382.79 million. Analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT's payout ratio is 25.95%.

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.