44,322 Shares in Crane NXT, Co. (NYSE:CXT) Acquired by Raymond James Financial Inc.

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

Several other institutional investors have also modified their holdings of the stock. Park Avenue Securities LLC bought a new position in Crane NXT during the fourth quarter valued at $527,000. Barclays PLC boosted its position in shares of Crane NXT by 45.3% during the third quarter. Barclays PLC now owns 37,663 shares of the company's stock valued at $2,113,000 after buying an additional 11,734 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Crane NXT by 12.3% during the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company's stock valued at $22,224,000 after buying an additional 43,439 shares during the last quarter. Norges Bank purchased a new stake in shares of Crane NXT in the fourth quarter worth approximately $26,754,000. Finally, Sei Investments Co. lifted its stake in shares of Crane NXT by 15.0% during the 4th quarter. Sei Investments Co. now owns 143,307 shares of the company's stock worth $8,343,000 after acquiring an additional 18,735 shares during the last quarter. 77.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Crane NXT Stock Down 0.1 %

Shares of CXT stock traded down $0.07 on Monday, hitting $48.07. The stock had a trading volume of 13,099 shares, compared to its average volume of 435,559. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.00. The business has a 50 day moving average price of $49.74 and a 200 day moving average price of $56.18. The company has a market cap of $2.76 billion, a PE ratio of 15.06 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping 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%. Research analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. This is a positive change 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%.

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.