51,113 Shares in Crane NXT, Co. (NYSE:CXT) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new position in shares of Crane NXT, Co. (NYSE:CXT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 51,113 shares of the company’s stock, valued at approximately $2,976,000. Balyasny Asset Management L.P. owned about 0.09% of Crane NXT at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Baird Financial Group Inc. raised its holdings in shares of Crane NXT by 14.0% during the fourth quarter. Baird Financial Group Inc. now owns 43,994 shares of the company’s stock worth $2,561,000 after purchasing an additional 5,402 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Crane NXT by 49.7% during the fourth quarter. Benjamin Edwards Inc. now owns 12,959 shares of the company’s stock worth $755,000 after purchasing an additional 4,301 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Crane NXT during the fourth quarter worth $1,597,000. Ameriprise Financial Inc. raised its holdings in shares of Crane NXT by 9.8% during the fourth quarter. Ameriprise Financial Inc. now owns 396,887 shares of the company’s stock worth $23,104,000 after purchasing an additional 35,388 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its holdings in shares of Crane NXT by 6.0% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 107,885 shares of the company’s stock worth $6,281,000 after purchasing an additional 6,063 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

CXT has been the subject of a number of recent analyst reports. Northland Securities cut shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. DA Davidson cut their price objective on shares of Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a report on Friday. Finally, Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Crane NXT has an average rating of “Moderate Buy” and an average price target of $78.33.

Crane NXT Stock Up 3.8%

CXT opened at $52.92 on Monday. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The company has a fifty day moving average of $49.15 and a two-hundred day moving average of $55.95. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.59 and a beta of 1.27.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $330.30 million during the quarter, compared to analysts’ expectations of $318.46 million. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, research analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. Crane NXT’s dividend payout ratio is currently 23.37%.

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.