New York State Common Retirement Fund Increases Position in Crane NXT, Co. $CXT

New York State Common Retirement Fund raised its position in shares of Crane NXT, Co. (NYSE:CXT) by 261.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 76,959 shares of the company’s stock after buying an additional 55,650 shares during the period. New York State Common Retirement Fund’s holdings in Crane NXT were worth $5,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CXT. Alliancebernstein L.P. lifted its stake in Crane NXT by 2,449.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock worth $95,446,000 after acquiring an additional 1,701,361 shares in the last quarter. State Street Corp lifted its position in shares of Crane NXT by 0.7% during the second quarter. State Street Corp now owns 1,533,762 shares of the company’s stock worth $82,670,000 after purchasing an additional 9,959 shares in the last quarter. Invesco Ltd. lifted its position in shares of Crane NXT by 16.5% during the second quarter. Invesco Ltd. now owns 1,240,520 shares of the company’s stock worth $66,864,000 after purchasing an additional 175,771 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Crane NXT by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 1,167,247 shares of the company’s stock valued at $62,915,000 after purchasing an additional 15,775 shares during the period. Finally, Congress Asset Management Co. grew its holdings in shares of Crane NXT by 4.4% in the third quarter. Congress Asset Management Co. now owns 1,167,160 shares of the company’s stock valued at $78,281,000 after purchasing an additional 48,715 shares in the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. Robert W. Baird reduced their price objective on Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. CJS Securities raised Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Oppenheimer increased their price target on Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Crane NXT Stock Performance

Shares of CXT stock opened at $56.09 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average price of $51.11 and a 200 day moving average price of $57.86. The company has a market cap of $3.22 billion, a P/E ratio of 20.93 and a beta of 1.18. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $69.00.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $445.10 million for the quarter, compared to analysts’ expectations of $431.38 million. Crane NXT had a return on equity of 20.24% and a net margin of 9.80%.Crane NXT’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.16 earnings per share. Sell-side analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.