GAMMA Investing LLC Increases Stock Position in Crane NXT, Co. (NYSE:CXT)

GAMMA Investing LLC raised its position in Crane NXT, Co. (NYSE:CXT) by 17.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,567 shares of the company’s stock after acquiring an additional 380 shares during the quarter. GAMMA Investing LLC’s holdings in Crane NXT were worth $144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Congress Asset Management Co. MA purchased a new position in Crane NXT during the 4th quarter valued at about $987,000. Wellington Management Group LLP purchased a new position in shares of Crane NXT during the fourth quarter valued at approximately $66,550,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Crane NXT during the fourth quarter valued at approximately $3,526,000. HighPoint Advisor Group LLC purchased a new stake in Crane NXT in the fourth quarter worth $418,000. Finally, Atlas Capital Advisors LLC boosted its holdings in Crane NXT by 30.5% in the first quarter. Atlas Capital Advisors LLC now owns 2,470 shares of the company’s stock valued at $153,000 after acquiring an additional 577 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

Crane NXT Price Performance

Shares of CXT stock opened at $55.06 on Friday. The business’s fifty day moving average is $56.76 and its 200 day moving average is $59.43. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 17.54 and a beta of 1.32. Crane NXT, Co. has a twelve month low of $48.42 and a twelve month high of $64.80.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The firm had revenue of $370.60 million for the quarter, compared to the consensus estimate of $367.08 million. During the same period in the prior year, the firm earned $1.12 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts expect that Crane NXT, Co. will post 4.28 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Crane NXT’s payout ratio is 20.38%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CXT shares. DA Davidson restated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th. Northland Securities lowered their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th.

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.