Crane NXT, Co. (NYSE:CXT) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. grew its holdings in Crane NXT, Co. (NYSE:CXT) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 349,482 shares of the company’s stock after purchasing an additional 14,073 shares during the quarter. Bessemer Group Inc.’s holdings in Crane NXT were worth $20,347,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC purchased a new position in Crane NXT in the 4th quarter valued at approximately $31,517,000. Norges Bank acquired a new stake in shares of Crane NXT in the fourth quarter valued at $26,754,000. FMR LLC boosted its holdings in Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company’s stock valued at $499,337,000 after purchasing an additional 336,765 shares during the period. Envestnet Asset Management Inc. grew its stake in Crane NXT by 185.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 180,409 shares of the company’s stock worth $10,503,000 after purchasing an additional 117,207 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in Crane NXT by 35.7% during the 4th quarter. Royce & Associates LP now owns 376,421 shares of the company’s stock worth $21,915,000 after purchasing an additional 98,936 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

CXT has been the subject of several recent research reports. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a research report on Tuesday, February 18th. Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.33.

Crane NXT Trading Down 4.1 %

CXT opened at $45.08 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.01. The company has a market cap of $2.58 billion, a P/E ratio of 14.13 and a beta of 1.21. The business’s 50-day simple moving average is $54.38 and its 200-day simple moving average is $57.24.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. As a group, equities research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.51%. Crane NXT’s payout ratio is 21.32%.

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.