International Assets Investment Management LLC Makes New Investment in Crane NXT, Co. (NYSE:CXT)

International Assets Investment Management LLC purchased a new position in Crane NXT, Co. (NYSE:CXT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,066 shares of the company’s stock, valued at approximately $572,000.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC bought a new stake in Crane NXT in the third quarter worth $28,000. Acadian Asset Management LLC bought a new position in shares of Crane NXT during the third quarter valued at about $28,000. Ronald Blue Trust Inc. bought a new position in shares of Crane NXT during the third quarter valued at about $30,000. New England Capital Financial Advisors LLC bought a new position in shares of Crane NXT during the third quarter valued at about $36,000. Finally, CI Investments Inc. bought a new position in shares of Crane NXT during the third quarter valued at about $53,000. 77.49% of the stock is owned by institutional investors.

Crane NXT Price Performance

Shares of NYSE CXT opened at $62.78 on Thursday. Crane NXT, Co. has a 1 year low of $46.14 and a 1 year high of $63.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.93 and a quick ratio of 1.46. The company’s 50-day moving average is $60.27 and its 200 day moving average is $56.59. The stock has a market capitalization of $3.59 billion, a P/E ratio of 19.20 and a beta of 1.37.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. The business had revenue of $356.90 million for the quarter, compared to analysts’ expectations of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.13 earnings per share. On average, sell-side analysts expect that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.16 per share. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.02%. Crane NXT’s dividend payout ratio is presently 19.57%.

Analysts Set New Price Targets

Several brokerages have recently commented on CXT. Northland Securities began coverage on shares of Crane NXT in a research note on Monday, April 8th. They set an “outperform” rating and a $91.00 price objective for the company. DA Davidson upped their price objective on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 18th.

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.