Hunter Perkins Capital Management LLC Takes $716,000 Position in Crane NXT, Co. $CXT

Hunter Perkins Capital Management LLC purchased a new position in shares of Crane NXT, Co. (NYSE:CXT) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 15,210 shares of the company’s stock, valued at approximately $716,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Channing Capital Management LLC acquired a new position in Crane NXT during the 3rd quarter worth $14,384,000. Thrivent Financial for Lutherans raised its stake in shares of Crane NXT by 7.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,256,296 shares of the company’s stock valued at $84,259,000 after purchasing an additional 89,049 shares in the last quarter. Southernsun Asset Management LLC acquired a new stake in shares of Crane NXT in the 2nd quarter valued at about $17,264,000. Thornburg Investment Management Inc. bought a new position in shares of Crane NXT during the third quarter worth about $9,923,000. Finally, Level Four Advisory Services LLC grew its stake in Crane NXT by 16.7% in the second quarter. Level Four Advisory Services LLC now owns 31,187 shares of the company’s stock worth $1,681,000 after purchasing an additional 4,467 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Down 0.6%

Shares of CXT stock opened at $41.15 on Friday. The firm has a market capitalization of $2.36 billion, a PE ratio of 16.40 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. Crane NXT, Co. has a 1 year low of $40.01 and a 1 year high of $69.00. The stock has a fifty day moving average of $48.69 and a two-hundred day moving average of $54.79.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $476.90 million for 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%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 earnings per share. As a group, research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th were 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 was Friday, February 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.7%. Crane NXT’s payout ratio is presently 28.69%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CXT shares. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Northland Securities set a $62.00 target price on Crane NXT in a research report on Wednesday, February 18th. Robert W. Baird set a $73.00 price target on Crane NXT in a report on Friday, February 13th. CJS Securities raised Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.60.

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.