Crane NXT, Co. (NYSE:CXT) Shares Bought by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp boosted its position in shares of Crane NXT, Co. (NYSE:CXT) by 142.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,948 shares of the company’s stock after acquiring an additional 5,845 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Crane NXT were worth $566,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC purchased a new stake in Crane NXT during the 3rd quarter worth approximately $28,000. Acadian Asset Management LLC purchased a new stake in shares of Crane NXT in the third quarter valued at approximately $28,000. New England Capital Financial Advisors LLC purchased a new stake in shares of Crane NXT in the third quarter valued at approximately $36,000. CI Investments Inc. purchased a new stake in shares of Crane NXT in the third quarter valued at approximately $53,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Crane NXT in the third quarter valued at approximately $82,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CXT shares. DA Davidson raised their price target on Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Northland Securities started coverage on Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective on the stock.

Crane NXT Stock Down 0.6 %

Crane NXT stock opened at $62.52 on Friday. Crane NXT, Co. has a 1-year low of $46.14 and a 1-year high of $63.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.93 and a quick ratio of 1.46. The stock has a market cap of $3.57 billion, a PE ratio of 19.12 and a beta of 1.37. The stock’s fifty day moving average is $60.35 and its two-hundred day moving average is $56.63.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. The company had revenue of $356.90 million for the quarter, compared to analyst estimates of $340.89 million. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.13 earnings per share. On average, sell-side analysts expect that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.16 per share. This is a positive change from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.02%. Crane NXT’s dividend payout ratio (DPR) is presently 19.57%.

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.