Rehmann Capital Advisory Group Acquires New Shares in Crane NXT, Co. $CXT

Key Points

• Rehmann Capital Advisory Group has acquired a new stake of 3,835 shares in Crane NXT, Co. valued at approximately $207,000 during the 2nd quarter.
• Crane NXT's stock has seen a recent surge, prompting analysts to raise target prices, with Oppenheimer increasing its target from $70 to $80.
• The company recently announced a quarterly dividend of $0.17, contributing to an annualized dividend yield of 1.0% and a payout ratio of 25.95%.

Rehmann Capital Advisory Group acquired a new stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,835 shares of the company's stock, valued at approximately $207,000.

Other hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC acquired a new stake in shares of Crane NXT during the 2nd quarter valued at $647,000. LPL Financial LLC lifted its holdings in Crane NXT by 18.9% during the 1st quarter. LPL Financial LLC now owns 60,611 shares of the company's stock worth $3,115,000 after buying an additional 9,617 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Crane NXT during the 1st quarter worth about $9,931,000. Strs Ohio acquired a new position in Crane NXT during the 1st quarter worth about $5,610,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Crane NXT by 54.1% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 37,900 shares of the company's stock worth $2,042,000 after buying an additional 13,300 shares during the period. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Stock Performance

CXT stock opened at $66.14 on Friday. The stock has a 50-day moving average price of $63.12 and a 200-day moving average price of $56.90. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $69.00. 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 firm has a market cap of $3.80 billion, a PE ratio of 25.24 and a beta of 1.36.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $1.81 earnings per share for the quarter. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The firm had revenue of $871.50 million during the quarter. As a group, equities research analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. Crane NXT's dividend payout ratio (DPR) is 25.95%.

Wall Street Analysts Forecast Growth

CXT has been the topic of several recent research reports. Oppenheimer lifted their target price on Crane NXT from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Crane NXT in a report on Friday. Finally, DA Davidson reaffirmed a "buy" rating and set a $85.00 target price on shares of Crane NXT in a report on Tuesday, September 23rd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $75.00.

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.

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