Victory Capital Management Inc. Has $68.37 Million Stake in Crane NXT, Co. (NYSE:CXT)

Victory Capital Management Inc. boosted its stake in shares of Crane NXT, Co. (NYSE:CXT) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,218,761 shares of the company’s stock after acquiring an additional 33,664 shares during the quarter. Victory Capital Management Inc. owned 2.13% of Crane NXT worth $68,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CXT. Pacer Advisors Inc. increased its position in shares of Crane NXT by 93.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock worth $69,716,000 after purchasing an additional 548,155 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Crane NXT by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock worth $66,626,000 after buying an additional 33,460 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Crane NXT by 18.3% during the third quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock worth $41,672,000 after buying an additional 114,707 shares in the last quarter. Capital International Investors raised its stake in shares of Crane NXT by 40.0% in the first quarter. Capital International Investors now owns 653,052 shares of the company’s stock valued at $40,424,000 after acquiring an additional 186,437 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Crane NXT by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 522,205 shares of the company’s stock worth $32,074,000 after acquiring an additional 19,224 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CXT. DA Davidson reiterated a “buy” rating and issued 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 Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Northland Securities reduced their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th.

Crane NXT Stock Down 0.6 %

NYSE CXT opened at $55.29 on Friday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 18.13 and a beta of 1.33. 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 quick ratio of 1.01 and a current ratio of 1.38. The stock has a fifty day moving average of $56.04 and a 200-day moving average of $58.53.

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, topping the consensus estimate of $1.14 by $0.02. The firm had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS. On average, equities research analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

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 paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. Crane NXT’s payout ratio 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.