Dynamic Technology Lab Private Ltd Acquires New Position in Crane NXT, Co. (NYSE:CXT)

Dynamic Technology Lab Private Ltd bought a new position in shares of Crane NXT, Co. (NYSE:CXT) during the third quarter, Holdings Channel reports. The institutional investor bought 7,256 shares of the company’s stock, valued at approximately $407,000.

A number of other large investors have also recently bought and sold shares of CXT. LRI Investments LLC grew its holdings in Crane NXT by 1,875.0% in the 2nd quarter. LRI Investments LLC now owns 632 shares of the company’s stock worth $39,000 after buying an additional 600 shares in the last quarter. nVerses Capital LLC bought a new stake in Crane NXT during the third quarter worth approximately $45,000. Hobbs Group Advisors LLC acquired a new stake in shares of Crane NXT in the second quarter valued at $52,000. Blue Trust Inc. grew its holdings in Crane NXT by 27.8% during the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after acquiring an additional 205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in Crane NXT by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Up 0.1 %

CXT stock opened at $62.68 on Friday. The company’s 50 day simple moving average is $56.55 and its 200-day simple moving average is $58.41. Crane NXT, Co. has a 52-week low of $50.31 and a 52-week high of $64.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01. The firm has a market capitalization of $3.58 billion, a P/E ratio of 20.55 and a beta of 1.33.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. The company had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS. As a group, equities research analysts anticipate that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.02%. Crane NXT’s dividend payout ratio (DPR) is presently 20.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Robert W. Baird lifted their price target on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Baird R W upgraded Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Northland Securities decreased their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th.

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.