FORA Capital LLC Buys Shares of 9,046 Crane NXT, Co. (NYSE:CXT)

FORA Capital LLC bought a new position in Crane NXT, Co. (NYSE:CXT) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,046 shares of the company’s stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in Crane NXT by 2.8% in the third quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock worth $68,372,000 after purchasing an additional 33,664 shares during the last quarter. Pacer Advisors Inc. grew its position in Crane NXT by 93.4% during the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after buying an additional 548,155 shares during the period. Dimensional Fund Advisors LP raised its position in Crane NXT by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock worth $66,626,000 after acquiring an additional 33,460 shares during the period. Congress Asset Management Co. grew its position in shares of Crane NXT by 18.3% during the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock valued at $41,672,000 after acquiring an additional 114,707 shares during the period. Finally, Bank of New York Mellon Corp increased its stake 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 purchasing an additional 19,224 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Baird R W raised Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. DA Davidson reaffirmed a “buy” rating and set a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Robert W. Baird increased their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Northland Securities decreased their price objective 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.

Crane NXT Stock Performance

NYSE:CXT opened at $62.77 on Friday. The stock has a 50-day moving average price of $56.41 and a 200 day moving average price of $58.37. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. Crane NXT, Co. has a 12-month low of $50.31 and a 12-month high of $64.80. The stock has a market capitalization of $3.59 billion, a P/E ratio of 20.58 and a beta of 1.33.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business had revenue of $403.50 million during the quarter, compared to analyst estimates of $392.44 million. During the same period last year, the firm posted $1.09 EPS. The company’s revenue was up 14.3% on a year-over-year basis. Equities research analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Announces Dividend

The business also recently declared 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. This represents a $0.64 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s payout ratio is currently 20.98%.

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.