Thornburg Investment Management Inc. Buys New Position in Crane NXT, Co. $CXT

Thornburg Investment Management Inc. bought a new stake in Crane NXT, Co. (NYSE:CXT) during the third quarter, Holdings Channel.com reports. The fund bought 147,954 shares of the company’s stock, valued at approximately $9,923,000.

Several other large investors have also recently bought and sold shares of CXT. AlphaQuest LLC bought a new stake in Crane NXT in the 2nd quarter valued at $25,000. Smartleaf Asset Management LLC increased its stake in Crane NXT by 141.6% during the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after acquiring an additional 228 shares during the period. Quent Capital LLC acquired a new position in Crane NXT in the 3rd quarter valued at approximately $28,000. Heartwood Wealth Advisors LLC acquired a new position in Crane NXT in the 3rd quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Crane NXT by 4,080.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock worth $34,000 after acquiring an additional 612 shares during the period. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CXT shares. CJS Securities upgraded Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. Northland Securities set a $62.00 price objective on shares of Crane NXT in a research note on Wednesday, February 18th. DA Davidson reiterated a “buy” rating and set a $85.00 target price on shares of Crane NXT in a research report on Tuesday, February 17th. Robert W. Baird set a $73.00 price target on shares of Crane NXT in a research report on Friday, February 13th. Finally, Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.60.

Crane NXT Trading Down 1.2%

Shares of CXT stock opened at $50.94 on Thursday. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $69.00. The company has a market capitalization of $2.92 billion, a P/E ratio of 20.29 and a beta of 1.18. The firm has a 50-day moving average price of $50.63 and a 200 day moving average price of $57.31. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 0.80.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The company had revenue of $476.90 million during the quarter, compared to analysts’ expectations of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. Crane NXT’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. Research 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 declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Saturday, February 28th will be given a dividend of $0.18 per share. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, February 27th. This represents a $0.72 annualized dividend and a yield of 1.4%. Crane NXT’s dividend payout ratio is currently 27.09%.

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