Bessemer Group Inc. Grows Stake in Crane NXT, Co. $CXT

Bessemer Group Inc. grew its position in Crane NXT, Co. (NYSE:CXT) by 16.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 444,104 shares of the company’s stock after buying an additional 64,222 shares during the quarter. Bessemer Group Inc. owned 0.77% of Crane NXT worth $29,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CXT. Thrivent Financial for Lutherans grew its stake in Crane NXT by 7.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,256,296 shares of the company’s stock valued at $84,259,000 after purchasing an additional 89,049 shares during the last quarter. Personal CFO Solutions LLC purchased a new stake in shares of Crane NXT during the second quarter valued at about $252,000. AGF Management Ltd. boosted its holdings in shares of Crane NXT by 20.1% in the 2nd quarter. AGF Management Ltd. now owns 56,592 shares of the company’s stock valued at $3,050,000 after buying an additional 9,482 shares in the last quarter. Level Four Advisory Services LLC grew its position in shares of Crane NXT by 16.7% in the 2nd quarter. Level Four Advisory Services LLC now owns 31,187 shares of the company’s stock worth $1,681,000 after buying an additional 4,467 shares during the last quarter. Finally, CW Advisors LLC raised its stake in shares of Crane NXT by 44.5% during the 2nd quarter. CW Advisors LLC now owns 164,414 shares of the company’s stock worth $8,862,000 after acquiring an additional 50,612 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Up 5.9%

NYSE CXT opened at $56.09 on Friday. The company has a market capitalization of $3.22 billion, a PE ratio of 20.93 and a beta of 1.18. The company has a fifty day moving average of $51.11 and a 200 day moving average of $57.86. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.94.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.03. The company had revenue of $445.10 million for the quarter, compared to the consensus estimate of $431.38 million. Crane NXT had a return on equity of 20.24% and a net margin of 9.80%.The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. Research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer raised their target price on shares of Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Robert W. Baird cut their price objective on shares of Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Zacks Research upgraded shares of Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. Finally, CJS Securities raised Crane NXT to a “strong-buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.80.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.