Crane NXT, Co. (NYSE:CXT) Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. raised its holdings in Crane NXT, Co. (NYSE:CXT) by 14.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 43,994 shares of the company’s stock after buying an additional 5,402 shares during the quarter. Baird Financial Group Inc.’s holdings in Crane NXT were worth $2,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC raised its stake in shares of Crane NXT by 4.1% during the 4th quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after buying an additional 336,765 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Crane NXT by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock worth $345,303,000 after buying an additional 66,800 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Crane NXT by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company’s stock worth $183,750,000 after buying an additional 72,992 shares during the last quarter. Capital International Investors raised its stake in shares of Crane NXT by 79.3% during the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock worth $78,658,000 after buying an additional 597,537 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Crane NXT by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,229,469 shares of the company’s stock worth $71,579,000 after buying an additional 136,810 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Trading Up 3.8%

Shares of CXT stock opened at $52.92 on Monday. The firm has a 50-day moving average price of $49.15 and a 200 day moving average price of $55.95. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.01. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.59 and a beta of 1.27. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The company had revenue of $330.30 million during the quarter, compared to analysts’ expectations of $318.46 million. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. Research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, May 30th. Crane NXT’s dividend payout ratio (DPR) is 23.37%.

Analysts Set New Price Targets

CXT has been the subject of several research reports. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a research note on Tuesday, February 18th. Finally, DA Davidson cut their target price on shares of Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.33.

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.