Raymond James Financial Inc. Buys New Position in Crane NXT, Co. (NYSE:CXT)

Raymond James Financial Inc. bought a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 44,322 shares of the company's stock, valued at approximately $2,580,000. Raymond James Financial Inc. owned approximately 0.08% of Crane NXT at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in Crane NXT by 319.7% in the 4th quarter. Renaissance Technologies LLC now owns 31,900 shares of the company's stock valued at $1,857,000 after purchasing an additional 24,300 shares in the last quarter. FMR LLC boosted its holdings in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company's stock valued at $499,337,000 after acquiring an additional 336,765 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Crane NXT by 185.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 180,409 shares of the company's stock valued at $10,503,000 after acquiring an additional 117,207 shares in the last quarter. ExodusPoint Capital Management LP boosted its holdings in shares of Crane NXT by 76.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 67,290 shares of the company's stock valued at $3,918,000 after acquiring an additional 29,136 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Crane NXT by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company's stock valued at $183,750,000 after acquiring an additional 72,992 shares in the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Stock Performance

Shares of NYSE CXT opened at $47.27 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 14.82 and a beta of 1.21. The stock's fifty day simple moving average is $50.36 and its 200 day simple moving average is $56.35. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. As a group, sell-side analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Crane NXT's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT's payout ratio is presently 21.32%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CXT shares. Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Northland Capmk cut shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Crane NXT presently has an average rating of "Moderate Buy" and a consensus price target of $83.33.

Crane NXT Company 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.

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