Russell Investments Group Ltd. Boosts Stake in Crane NXT, Co. (NYSE:CXT)

Russell Investments Group Ltd. boosted its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,485 shares of the company's stock after purchasing an additional 14,266 shares during the period. Russell Investments Group Ltd. owned about 0.26% of Crane NXT worth $8,502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC bought a new stake in Crane NXT during the third quarter valued at $402,528,000. Vanguard Group Inc. bought a new position in shares of Crane NXT during the 3rd quarter worth about $306,517,000. Victory Capital Management Inc. bought a new position in shares of Crane NXT during the 3rd quarter worth about $65,919,000. Lord Abbett & CO. LLC bought a new position in shares of Crane NXT during the 3rd quarter worth about $39,749,000. Finally, Pacer Advisors Inc. boosted its position in shares of Crane NXT by 8,855.4% during the 4th 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 in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Stock Up 1.0 %

Shares of CXT traded up $0.64 on Tuesday, reaching $62.68. The company's stock had a trading volume of 344,974 shares, compared to its average volume of 331,633. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3.58 billion, a PE ratio of 19.17 and a beta of 1.36. Crane NXT, Co. has a twelve month low of $47.96 and a twelve month high of $63.89. The firm has a fifty day moving average of $60.62 and a 200-day moving average of $57.07.

Crane NXT (NYSE:CXT - Get Free Report) last released its earnings results on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The company had revenue of $356.90 million during the quarter, compared to analyst estimates of $340.89 million. During the same period in the prior year, the company posted $2.13 earnings per share. Crane NXT's quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were issued a $0.16 dividend. This is an increase from Crane NXT's previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, February 28th. Crane NXT's payout ratio is 19.57%.

Analyst Ratings Changes

CXT has been the topic of a number of analyst reports. Northland Securities initiated coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an "outperform" rating and a $91.00 target price on the stock. DA Davidson upped their target price on shares of Crane NXT from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, March 18th.

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.