First Trust Advisors LP Grows Position in Crane NXT, Co. (NYSE:CXT)

First Trust Advisors LP increased its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 52.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 373,637 shares of the company's stock after purchasing an additional 128,512 shares during the quarter. First Trust Advisors LP owned 0.65% of Crane NXT worth $21,753,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Fifth Third Bancorp lifted its stake in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock valued at $32,000 after buying an additional 276 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Crane NXT in the third quarter valued at approximately $32,000. Covestor Ltd boosted its stake in shares of Crane NXT by 38.6% in the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after acquiring an additional 206 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Crane NXT by 985.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after acquiring an additional 1,488 shares during the last quarter. Finally, Cascade Financial Partners LLC purchased a new stake in shares of Crane NXT during the fourth quarter worth approximately $202,000. Hedge funds and other institutional investors own 77.49% of the company's stock.

Crane NXT Trading Down 0.6 %

NYSE:CXT traded down $0.27 during trading hours on Wednesday, hitting $46.92. The company had a trading volume of 394,614 shares, compared to its average volume of 385,049. The company has a 50-day moving average of $50.36 and a 200 day moving average of $56.35. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.69 billion, a P/E ratio of 14.71 and a beta of 1.21. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Sell-side analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a dividend of $0.17 per share. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Friday, February 28th. Crane NXT's dividend payout ratio (DPR) is currently 21.32%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CXT. Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a research note on Tuesday, February 18th. Northland Capmk lowered shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crane NXT has an average rating of "Moderate Buy" and an average price target of $83.33.

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.