Wilmington Savings Fund Society FSB Makes New $32,000 Investment in Crane NXT, Co. (NYSE:CXT)

Wilmington Savings Fund Society FSB acquired a new stake in Crane NXT, Co. (NYSE:CXT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 579 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CXT. Stifel Financial Corp grew its position in shares of Crane NXT by 60.6% in the 3rd quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock valued at $2,448,000 after buying an additional 16,465 shares during the last quarter. FORA Capital LLC acquired a new position in Crane NXT in the third quarter valued at $507,000. D.A. Davidson & CO. increased its position in shares of Crane NXT by 20.7% during the third quarter. D.A. Davidson & CO. now owns 156,739 shares of the company’s stock worth $8,793,000 after purchasing an additional 26,841 shares in the last quarter. Radnor Capital Management LLC purchased a new stake in shares of Crane NXT in the 3rd quarter valued at about $948,000. Finally, M&T Bank Corp boosted its position in shares of Crane NXT by 45.0% in the 3rd quarter. M&T Bank Corp now owns 42,298 shares of the company’s stock valued at $2,373,000 after purchasing an additional 13,121 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CXT. Robert W. Baird boosted their price objective on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. DA Davidson reissued a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Northland Securities dropped their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th.

Crane NXT Stock Down 0.9 %

Shares of Crane NXT stock opened at $56.44 on Monday. Crane NXT, Co. has a one year low of $52.89 and a one year high of $64.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. The firm has a fifty day moving average of $57.95 and a two-hundred day moving average of $58.29. The company has a market cap of $3.23 billion, a P/E ratio of 18.50 and a beta of 1.34.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The company had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. During the same period last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is presently 20.98%.

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.