State of New Jersey Common Pension Fund D Buys 3,034 Shares of Crane NXT, Co. (NYSE:CXT)

State of New Jersey Common Pension Fund D boosted its stake in Crane NXT, Co. (NYSE:CXT) by 9.8% in the 3rd quarter, Holdings Channel reports. The firm owned 34,035 shares of the company’s stock after acquiring an additional 3,034 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Crane NXT were worth $1,909,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of Crane NXT during the 1st quarter valued at about $38,000. nVerses Capital LLC bought a new stake in shares of Crane NXT during the 3rd quarter valued at about $45,000. Hobbs Group Advisors LLC bought a new stake in shares of Crane NXT during the 2nd quarter valued at about $52,000. Blue Trust Inc. boosted its position in shares of Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after acquiring an additional 205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after buying an additional 265 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of Crane NXT stock opened at $55.49 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01. The business’s 50 day simple moving average is $56.04 and its two-hundred day simple moving average is $58.45. The stock has a market capitalization of $3.17 billion, a P/E ratio of 18.19 and a beta of 1.33. Crane NXT, Co. has a one year low of $50.31 and a one year high of $64.80.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $392.44 million. During the same period in the previous year, the firm earned $1.09 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. Analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CXT. Robert W. Baird raised their price objective on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th. DA Davidson reaffirmed a “buy” rating and issued a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Northland Securities decreased their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Baird R W raised Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th.

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.