Wellington Management Group LLP Increases Stock Position in Crane NXT, Co. $CXT

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

A number of other institutional investors have also modified their holdings of CXT. Renaissance Technologies LLC raised its position 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 buying an additional 24,300 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Crane NXT in the fourth quarter valued at approximately $2,580,000. Barclays PLC grew its holdings in 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 purchasing an additional 25,087 shares during the period. Mariner LLC purchased a new stake in Crane NXT in the fourth quarter valued at approximately $206,000. Finally, Marshall Wace LLP grew its holdings in Crane NXT by 479.6% in the fourth quarter. Marshall Wace LLP now owns 22,603 shares of the company's stock valued at $1,316,000 after purchasing an additional 18,703 shares during the period. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Trading Up 5.2%

Shares of CXT stock traded up $3.1270 during mid-day trading on Friday, reaching $63.2770. The company's stock had a trading volume of 375,062 shares, compared to its average volume of 414,715. The company's 50 day simple moving average is $57.69 and its 200-day simple moving average is $54.22. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.00. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.63 billion, a PE ratio of 24.15 and a beta of 1.33.

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

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid 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 of this dividend is Friday, August 29th. Crane NXT's dividend payout ratio (DPR) is currently 25.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. DA Davidson restated a "buy" rating and issued a $85.00 target price on shares of Crane NXT in a report on Monday, August 18th. UBS Group lowered their target price 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.75.

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.