Royce & Associates LP Has $22.36 Million Stock Position in Crane NXT, Co. $CXT

Royce & Associates LP cut its stake in shares of Crane NXT, Co. (NYSE:CXT) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 333,400 shares of the company’s stock after selling 37,989 shares during the period. Royce & Associates LP’s holdings in Crane NXT were worth $22,361,000 as of its most recent SEC filing.

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

Crane NXT Price Performance

Shares of CXT opened at $48.28 on Monday. The firm has a market cap of $2.77 billion, a PE ratio of 19.24 and a beta of 1.18. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $69.00. The business’s 50 day moving average price is $50.71 and its two-hundred day moving average price is $57.13. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 1.50.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.02. The firm had revenue of $476.90 million during the quarter, compared to the consensus estimate of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. On average, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Saturday, February 28th will be paid a dividend of $0.18 per share. This is an increase from Crane NXT’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. Crane NXT’s dividend payout ratio (DPR) is currently 28.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CXT shares. 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. Northland Securities set a $62.00 price objective on shares of Crane NXT in a research note on Wednesday, February 18th. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. CJS Securities upgraded Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Robert W. Baird set a $73.00 price target on Crane NXT in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Crane NXT currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.60.

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.