Two Sigma Investments LP Raises Holdings in Crane NXT, Co. (NYSE:CXT)

Two Sigma Investments LP increased its stake in shares of Crane NXT, Co. (NYSE:CXT) by 61.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,294 shares of the company’s stock after purchasing an additional 126,434 shares during the period. Two Sigma Investments LP owned 0.58% of Crane NXT worth $19,404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital International Investors boosted its stake in shares of Crane NXT by 79.3% during the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock worth $78,658,000 after purchasing an additional 597,537 shares during the last quarter. Conestoga Capital Advisors LLC purchased a new position in shares of Crane NXT during the fourth quarter valued at approximately $31,517,000. Silvercrest Asset Management Group LLC boosted its position in Crane NXT by 95.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company’s stock worth $59,470,000 after acquiring an additional 499,290 shares during the last quarter. Norges Bank purchased a new stake in Crane NXT in the 4th quarter worth approximately $26,754,000. Finally, FMR LLC grew its stake in Crane NXT by 4.1% in the 4th quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after acquiring an additional 336,765 shares during the period. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CXT. UBS Group reduced their price target on Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. DA Davidson dropped their target price on Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target on the stock. in a research note on Tuesday, February 18th. Finally, Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.75.

Crane NXT Stock Up 0.0%

Shares of CXT opened at $52.27 on Friday. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The company’s fifty day moving average is $49.27 and its two-hundred day moving average is $55.91. The firm has a market cap of $3.00 billion, a PE ratio of 16.39 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) last issued its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The firm had revenue of $330.30 million for the quarter, compared to analysts’ expectations of $318.46 million. During the same quarter last year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, May 30th. Crane NXT’s dividend payout ratio is currently 23.37%.

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.