Clearbridge Investments LLC Has $11.12 Million Stock Position in Crane NXT, Co. (NYSE:CXT)

Clearbridge Investments LLC grew its position in shares of Crane NXT, Co. (NYSE:CXT) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 195,476 shares of the company’s stock after acquiring an additional 1,476 shares during the quarter. Clearbridge Investments LLC’s holdings in Crane NXT were worth $11,117,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Crane NXT during the 3rd quarter worth $28,000. CI Investments Inc. acquired a new position in shares of Crane NXT in the third quarter worth approximately $53,000. Simplex Trading LLC bought a new stake in Crane NXT in the third quarter worth approximately $85,000. EMC Capital Management bought a new stake in shares of Crane NXT during the third quarter valued at approximately $89,000. Finally, USA Financial Formulas bought a new stake in shares of Crane NXT during the third quarter valued at approximately $105,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

CXT has been the topic of several research analyst reports. Northland Securities assumed coverage on Crane NXT in a research report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective on the stock. DA Davidson increased their target price on Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

Crane NXT Stock Up 1.0 %

CXT stock traded up $0.62 on Friday, reaching $61.58. 123,161 shares of the company traded hands, compared to its average volume of 243,335. Crane NXT, Co. has a one year low of $48.42 and a one year high of $63.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.12 and a quick ratio of 1.56. The company has a market cap of $3.52 billion, a P/E ratio of 19.43 and a beta of 1.36. The firm has a fifty day simple moving average of $61.03 and a 200-day simple moving average of $57.87.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, May 8th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $313.60 million during the quarter, compared to the consensus estimate of $311.72 million. Crane NXT had a return on equity of 25.50% and a net margin of 13.26%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. Research analysts anticipate that Crane NXT, Co. will post 4.3 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, May 31st. Crane NXT’s payout ratio is 20.19%.

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.