Teacher Retirement System of Texas Purchases Shares of 7,105 Crane NXT, Co. (NYSE:CXT)

Teacher Retirement System of Texas acquired a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,105 shares of the company's stock, valued at approximately $365,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Deutsche Bank AG increased its holdings in Crane NXT by 3.0% during the 4th quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock valued at $339,000 after acquiring an additional 168 shares in the last quarter. Covestor Ltd increased its holdings in Crane NXT by 38.6% during the 4th 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. Corient Private Wealth LLC increased its holdings in Crane NXT by 1.2% during the 4th quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock valued at $1,231,000 after acquiring an additional 254 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after buying an additional 256 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Crane NXT by 87.2% during the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after buying an additional 327 shares in the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CXT has been the subject of a number of recent research reports. UBS Group lowered their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. DA Davidson lowered their price target on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Crane NXT has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Trading Down 0.1%

Crane NXT stock traded down $0.06 during trading on Friday, reaching $57.29. The company had a trading volume of 327,217 shares, compared to its average volume of 405,090. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.01. The stock's 50 day moving average price is $55.12 and its two-hundred day moving average price is $54.87. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 19.69 and a beta of 1.29. 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 released its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The firm had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. During the same period in the previous year, the firm earned $0.85 earnings per share. Crane NXT's revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were issued a $0.17 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Crane NXT's payout ratio is 23.37%.

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.