Millennium Management LLC Has $3.38 Million Stake in Crane NXT, Co. (NYSE:CXT)

Millennium Management LLC grew its holdings in Crane NXT, Co. (NYSE:CXT) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,071 shares of the company’s stock after purchasing an additional 1,365 shares during the quarter. Millennium Management LLC owned about 0.10% of Crane NXT worth $3,382,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Marshall Wace LLP acquired a new stake in shares of Crane NXT in the second quarter worth $737,000. Sei Investments Co. lifted its stake in shares of Crane NXT by 2.6% in the second quarter. Sei Investments Co. now owns 144,302 shares of the company’s stock valued at $8,863,000 after buying an additional 3,634 shares during the period. Pacer Advisors Inc. grew its position in Crane NXT by 93.4% during the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock worth $69,716,000 after buying an additional 548,155 shares in the last quarter. AE Wealth Management LLC bought a new position in Crane NXT during the second quarter valued at about $202,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after purchasing an additional 265 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Stock Up 1.9 %

Shares of CXT opened at $55.06 on Monday. The company has a market capitalization of $3.15 billion, a P/E ratio of 17.37 and a beta of 1.32. Crane NXT, Co. has a one year low of $48.42 and a one year high of $64.80. The business’s 50 day simple moving average is $56.76 and its 200-day simple moving average is $59.42. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87.

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

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT’s dividend payout ratio is 20.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Northland Securities dropped their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. DA Davidson reaffirmed a “buy” rating and issued a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th.

Crane NXT Company 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.