Two Sigma Advisers LP Acquires 58,600 Shares of Crane NXT, Co. (NYSE:CXT)

Two Sigma Advisers LP raised its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 51.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,500 shares of the company's stock after buying an additional 58,600 shares during the period. Two Sigma Advisers LP owned 0.30% of Crane NXT worth $9,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CXT. Two Sigma Investments LP increased its holdings in shares of Crane NXT by 61.1% during the 4th quarter. Two Sigma Investments LP now owns 333,294 shares of the company's stock valued at $19,404,000 after acquiring an additional 126,434 shares during the last quarter. Sapience Investments LLC bought a new stake in Crane NXT during the fourth quarter worth approximately $1,972,000. Silvercrest Asset Management Group LLC grew its holdings in Crane NXT by 95.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company's stock valued at $59,470,000 after purchasing an additional 499,290 shares during the last quarter. Royal Bank of Canada raised its position in shares of Crane NXT by 103.8% in the fourth quarter. Royal Bank of Canada now owns 233,405 shares of the company's stock valued at $13,589,000 after purchasing an additional 118,904 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Crane NXT by 19.7% in the fourth quarter. Quantinno Capital Management LP now owns 22,425 shares of the company's stock valued at $1,306,000 after purchasing an additional 3,695 shares during the period. Institutional investors and hedge funds own 77.49% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CXT. UBS Group decreased their price objective 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. Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price for the company. in a research report on Tuesday, February 18th. DA Davidson decreased 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. Finally, Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Stock Performance

Shares of CXT traded up $2.02 during trading hours on Tuesday, reaching $54.01. 164,068 shares of the company traded hands, compared to its average volume of 391,950. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The stock's fifty day moving average is $49.14 and its 200 day moving average is $55.85. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.01. The stock has a market cap of $3.10 billion, a P/E ratio of 16.93 and a beta of 1.27.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The firm had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. During the same period in the previous year, the company posted $0.85 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate 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, June 11th. Investors of record on Friday, May 30th will be paid a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. 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.