Quantbot Technologies LP Buys 18,002 Shares of Crane NXT, Co. (NYSE:CXT)

Quantbot Technologies LP boosted its stake in Crane NXT, Co. (NYSE:CXT) by 296.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,065 shares of the company’s stock after acquiring an additional 18,002 shares during the quarter. Quantbot Technologies LP’s holdings in Crane NXT were worth $1,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its stake in Crane NXT by 20.7% in the 3rd quarter. D.A. Davidson & CO. now owns 156,739 shares of the company’s stock valued at $8,793,000 after acquiring an additional 26,841 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Crane NXT in the third quarter valued at approximately $407,000. Charles Schwab Investment Management Inc. lifted its position in shares of Crane NXT by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 444,863 shares of the company’s stock worth $24,957,000 after purchasing an additional 12,026 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Crane NXT by 64.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,891 shares of the company’s stock worth $3,360,000 after purchasing an additional 23,580 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Crane NXT by 9.5% in the third quarter. PNC Financial Services Group Inc. now owns 16,910 shares of the company’s stock valued at $949,000 after purchasing an additional 1,473 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Stock Up 0.1 %

Shares of CXT stock opened at $62.68 on Friday. Crane NXT, Co. has a 52-week low of $50.31 and a 52-week high of $64.80. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 20.55 and a beta of 1.33. The firm’s 50-day moving average is $56.55 and its 200-day moving average is $58.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. During the same quarter in the prior year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts predict that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

Wall Street Analysts Forecast Growth

CXT has been the subject of a number of recent research reports. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities decreased their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Robert W. Baird boosted their price target on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, DA Davidson reissued a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th.

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.