Crane NXT, Co. $CXT Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Crane NXT, Co. (NYSE:CXT) by 19.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,635,770 shares of the company’s stock after acquiring an additional 260,986 shares during the period. Victory Capital Management Inc.’s holdings in Crane NXT were worth $109,711,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. US Bancorp DE grew its position in Crane NXT by 2.0% in the 3rd quarter. US Bancorp DE now owns 8,445 shares of the company’s stock valued at $566,000 after acquiring an additional 169 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Crane NXT by 8.5% in the third quarter. Whittier Trust Co. now owns 2,170 shares of the company’s stock valued at $144,000 after purchasing an additional 170 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Crane NXT by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 50,304 shares of the company’s stock valued at $2,711,000 after purchasing an additional 190 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Crane NXT by 141.6% in the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Crane NXT by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 44,954 shares of the company’s stock worth $2,423,000 after buying an additional 271 shares during the period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CXT has been the subject of several recent research reports. DA Davidson reissued a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a research report on Tuesday, February 17th. Robert W. Baird set a $73.00 price objective on Crane NXT in a research note on Friday, February 13th. CJS Securities raised Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Northland Securities set a $62.00 price target on Crane NXT in a report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Crane NXT has a consensus rating of “Moderate Buy” and a consensus price target of $71.60.

Crane NXT Trading Up 0.6%

NYSE:CXT opened at $48.46 on Thursday. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $69.00. The stock has a market cap of $2.78 billion, a P/E ratio of 19.31 and a beta of 1.18. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 1.50. The stock has a 50-day simple moving average of $50.73 and a 200-day simple moving average of $56.90.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.02. The firm had revenue of $476.90 million during the quarter, compared to analysts’ expectations of $450.53 million. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Saturday, February 28th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, February 27th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. Crane NXT’s dividend payout ratio (DPR) is currently 28.69%.

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.