Victory Capital Management Inc. Buys 33,664 Shares of Crane NXT, Co. (NYSE:CXT)

Victory Capital Management Inc. grew its stake in Crane NXT, Co. (NYSE:CXT) by 2.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,218,761 shares of the company’s stock after acquiring an additional 33,664 shares during the period. Victory Capital Management Inc.’s holdings in Crane NXT were worth $68,372,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CXT. SG Americas Securities LLC bought a new stake in Crane NXT in the second quarter valued at approximately $748,000. Radnor Capital Management LLC bought a new stake in shares of Crane NXT in the 3rd quarter valued at $948,000. Sei Investments Co. raised its stake in Crane NXT by 17.9% during the 1st quarter. Sei Investments Co. now owns 140,668 shares of the company’s stock worth $8,708,000 after buying an additional 21,360 shares during the period. Texas Permanent School Fund Corp lifted its holdings in Crane NXT by 90.1% during the second quarter. Texas Permanent School Fund Corp now owns 80,328 shares of the company’s stock worth $4,934,000 after acquiring an additional 38,076 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in Crane NXT by 18.3% in the third 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. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Crane NXT Stock Down 0.6 %

Shares of Crane NXT stock opened at $55.29 on Friday. The firm has a market cap of $3.16 billion, a PE ratio of 18.13 and a beta of 1.33. The business’s 50 day simple moving average is $56.04 and its 200 day simple moving average is $58.53. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. Crane NXT, Co. has a 52-week low of $50.31 and a 52-week high of $64.80.

Crane NXT (NYSE:CXT) last posted 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 company had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. During the same period last year, the company earned $1.09 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s payout ratio is 20.98%.

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.