Invesco Ltd. Purchases 40,602 Shares of Crane NXT, Co. $CXT

Key Points

• Invesco Ltd. increased its stake in Crane NXT, Co. by 4.0%, owning over 1 million shares worth approximately $54.7 million after the acquisition.
• Crane NXT reported $0.97 earnings per share for the last quarter, exceeding analysts' expectations, along with revenue of $404.4 million.
• The company declared a quarterly dividend of $0.17 per share, representing an annualized yield of 1.1%, to be paid on September 10th.

Invesco Ltd. grew its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 4.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,064,749 shares of the company's stock after purchasing an additional 40,602 shares during the period. Invesco Ltd. owned about 1.86% of Crane NXT worth $54,728,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Crane NXT by 319.7% in the fourth quarter. Renaissance Technologies LLC now owns 31,900 shares of the company's stock valued at $1,857,000 after acquiring an additional 24,300 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Crane NXT in the fourth quarter valued at approximately $2,580,000. Barclays PLC grew its holdings in shares of Crane NXT by 66.6% in the fourth quarter. Barclays PLC now owns 62,750 shares of the company's stock valued at $3,654,000 after acquiring an additional 25,087 shares in the last quarter. Mariner LLC bought a new position in Crane NXT during the fourth quarter valued at $206,000. Finally, XTX Topco Ltd increased its position in Crane NXT by 68.4% in the fourth quarter. XTX Topco Ltd now owns 9,759 shares of the company's stock worth $568,000 after buying an additional 3,965 shares during the last quarter. 77.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Crane NXT Stock Performance

Shares of NYSE:CXT traded down $0.3360 during trading on Wednesday, hitting $60.2140. 516,600 shares of the company were exchanged, compared to its average volume of 425,470. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.00. The company has a market cap of $3.46 billion, a PE ratio of 22.98 and a beta of 1.33. The stock has a 50 day moving average of $57.32 and a 200 day moving average of $54.28.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The company had revenue of $404.40 million for the quarter, compared to the consensus estimate of $382.79 million. As a group, equities research analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 29th. Crane NXT's dividend payout ratio (DPR) is 25.95%.

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.