Stifel Financial Corp Increases Stake in Crane NXT, Co. (NYSE:CXT)

Stifel Financial Corp boosted its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,365 shares of the company's stock after acquiring an additional 11,738 shares during the period. Stifel Financial Corp owned about 0.10% of Crane NXT worth $3,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CXT. Fifth Third Bancorp increased its holdings in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock valued at $32,000 after buying an additional 276 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Crane NXT in the 3rd quarter valued at $32,000. Covestor Ltd raised its position in shares of Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after acquiring an additional 206 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Crane NXT by 985.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after purchasing an additional 1,488 shares during the last quarter. Finally, Cascade Financial Partners LLC purchased a new position in Crane NXT in the fourth quarter valued at about $202,000. Hedge funds and other institutional investors own 77.49% of the company's stock.

Crane NXT Trading Up 2.4 %

CXT opened at $48.14 on Friday. The stock has a market capitalization of $2.76 billion, a PE ratio of 15.09 and a beta of 1.21. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.01. The business's 50 day moving average price is $49.74 and its 200 day moving average price is $56.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14.

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

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were issued a $0.17 dividend. This is an increase from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT's payout ratio is presently 21.32%.

Analysts Set New Price Targets

A number of research firms 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 price target for the company. in a 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 analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.33.

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.

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