Crane NXT, Co. (NYSE:CXT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,235,343 shares of the company's stock after buying an additional 49,106 shares during the period. Victory Capital Management Inc. owned about 2.17% of Crane NXT worth $70,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC bought a new stake in Crane NXT during the third quarter valued at about $402,528,000. Vanguard Group Inc. bought a new position in shares of Crane NXT during the 3rd quarter valued at approximately $306,517,000. Lord Abbett & CO. LLC purchased a new position in shares of Crane NXT in the third quarter valued at $39,749,000. Pacer Advisors Inc. increased its position in Crane NXT by 8,855.4% in the fourth quarter. Pacer Advisors Inc. now owns 705,688 shares of the company's stock worth $40,132,000 after purchasing an additional 697,808 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Crane NXT during the third quarter valued at $36,326,000. 77.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. DA Davidson upped their target price on shares of Crane NXT from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Northland Securities assumed coverage on Crane NXT in a research report on Monday, April 8th. They set an "outperform" rating and a $91.00 price objective on the stock.

Crane NXT Trading Up 0.9 %

Shares of NYSE CXT traded up $0.56 during mid-day trading on Friday, reaching $61.52. The company had a trading volume of 160,704 shares, compared to its average volume of 280,083. Crane NXT, Co. has a 52 week low of $46.14 and a 52 week high of $63.89. The business's 50-day moving average is $60.60 and its 200-day moving average is $56.94. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 18.81 and a beta of 1.36. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The firm had revenue of $356.90 million during the quarter, compared to the consensus estimate of $340.89 million. During the same quarter in the previous year, the firm posted $2.13 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. Equities analysts expect that Crane NXT, Co. will post 4.26 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 13th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. This is a positive change from Crane NXT's previous quarterly dividend of $0.14. Crane NXT's dividend payout ratio (DPR) is currently 19.57%.

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.