Crane NXT, Co. $CXT Shares Acquired by Interval Partners LP

Interval Partners LP boosted its position in Crane NXT, Co. (NYSE:CXT) by 68.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 127,008 shares of the company’s stock after acquiring an additional 51,681 shares during the quarter. Interval Partners LP’s holdings in Crane NXT were worth $8,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CXT. Smartleaf Asset Management LLC grew its stake in shares of Crane NXT by 141.6% during the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Crane NXT in the third quarter worth about $28,000. Aster Capital Management DIFC Ltd purchased a new position in Crane NXT in the third quarter valued at about $33,000. Heartwood Wealth Advisors LLC purchased a new position in Crane NXT in the third quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC grew its stake in Crane NXT by 4,080.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $34,000 after purchasing an additional 612 shares in the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Trading Down 1.4%

NYSE:CXT opened at $42.24 on Friday. The company has a market cap of $2.43 billion, a PE ratio of 16.83 and a beta of 1.18. The business’s 50 day moving average is $50.33 and its two-hundred day moving average is $56.14. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 0.80. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $69.00.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The business had revenue of $476.90 million for the quarter, compared to analyst estimates of $450.53 million. During the same period in the prior year, the company posted $1.20 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. On average, analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, February 27th. Crane NXT’s dividend payout ratio is currently 28.69%.

Analysts Set New Price Targets

CXT has been the topic of several analyst reports. UBS Group set a $58.00 price objective on Crane NXT in a report on Friday, February 13th. Northland Securities set a $62.00 price target on shares of Crane NXT in a research report on Wednesday, February 18th. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. DA Davidson reiterated a “buy” rating and set a $85.00 price objective on shares of Crane NXT in a research note on Tuesday, February 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Crane NXT has a consensus rating of “Moderate Buy” and an average target price of $71.60.

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