Crane NXT, Co. $CXT Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Crane NXT, Co. by 16.2%, owning approximately 6.40% of the company's stock worth $188,584,000.
• Wall Street analysts have a positive outlook for Crane NXT, with DA Davidson setting a target price of $85.00 and a current average rating of "Moderate Buy".
• Crane NXT recently announced a quarterly dividend of $0.17 per share, representing a yield of 1.1% and a payout ratio of 25.95%.

Wellington Management Group LLP lifted its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,668,953 shares of the company's stock after acquiring an additional 512,813 shares during the period. Wellington Management Group LLP owned 6.40% of Crane NXT worth $188,584,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in Crane NXT during the fourth quarter worth $26,000. UMB Bank n.a. boosted its stake 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 valued at $36,000 after purchasing an additional 327 shares during the period. Quarry LP bought a new stake in shares of Crane NXT in the fourth quarter valued at about $42,000. Fifth Third Bancorp raised its holdings in shares of Crane NXT by 46.0% in the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock valued at $42,000 after acquiring an additional 256 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Crane NXT in the first quarter valued at about $44,000. Institutional investors own 77.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CXT shares. DA Davidson reiterated a "buy" rating and issued a $85.00 target price on shares of Crane NXT in a report on Monday, August 18th. UBS Group cut their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Price Performance

NYSE CXT traded down $0.06 during mid-day trading on Tuesday, hitting $62.45. The stock had a trading volume of 585,625 shares, compared to its average volume of 415,531. The firm's 50 day moving average is $57.92 and its 200 day moving average is $54.21. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 23.83 and a beta of 1.33.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The firm had revenue of $404.40 million during the quarter, compared to the consensus estimate of $382.79 million. Equities research 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. Investors of record on Friday, August 29th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT's dividend payout ratio is currently 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.