Charles Schwab Investment Management Inc. Boosts Holdings in Crane NXT, Co. (NYSE:CXT)

Charles Schwab Investment Management Inc. raised its holdings in Crane NXT, Co. (NYSE:CXT) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 444,863 shares of the company’s stock after purchasing an additional 12,026 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Crane NXT were worth $24,957,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC raised its position in shares of Crane NXT by 1,875.0% in the second quarter. LRI Investments LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 600 shares during the period. nVerses Capital LLC acquired a new position in shares of Crane NXT during the 3rd quarter worth about $45,000. Hobbs Group Advisors LLC acquired a new position in shares of Crane NXT during the 2nd quarter worth about $52,000. Blue Trust Inc. raised its position in shares of Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after purchasing an additional 205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Crane NXT by 16.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson reiterated 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 research report on Monday, October 7th. Robert W. Baird increased their price objective 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. Finally, Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th.

Crane NXT Price Performance

Crane NXT stock opened at $61.12 on Friday. Crane NXT, Co. has a 52-week low of $50.31 and a 52-week high of $64.80. The company’s 50 day moving average is $56.84 and its two-hundred day moving average is $58.44. The firm has a market cap of $3.49 billion, a PE ratio of 20.04 and a beta of 1.34. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share 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 business had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. During the same period last year, the business earned $1.09 EPS. The company’s revenue was up 14.3% on a year-over-year basis. On average, research analysts expect that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s payout ratio is currently 20.98%.

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.