Wellington Management Group LLP Increases Holdings in Crane NXT, Co. (NYSE:CXT)

Wellington Management Group LLP boosted its position in Crane NXT, Co. (NYSE:CXT) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,156,140 shares of the company’s stock after buying an additional 72,992 shares during the quarter. Wellington Management Group LLP owned approximately 5.51% of Crane NXT worth $183,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Crane NXT by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock worth $345,303,000 after acquiring an additional 66,800 shares during the last quarter. State Street Corp raised its position in Crane NXT by 1.6% in the 3rd quarter. State Street Corp now owns 1,443,518 shares of the company’s stock worth $80,981,000 after purchasing an additional 22,041 shares during the period. Geode Capital Management LLC lifted its stake in Crane NXT by 6.4% in the third quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company’s stock worth $56,157,000 after purchasing an additional 60,468 shares during the last quarter. Congress Asset Management Co. boosted its position in Crane NXT by 1.3% during the fourth quarter. Congress Asset Management Co. now owns 752,734 shares of the company’s stock valued at $43,824,000 after buying an additional 9,921 shares during the period. Finally, Conestoga Capital Advisors LLC bought a new position in shares of Crane NXT during the fourth quarter valued at about $31,517,000. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CXT. Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Crane NXT currently has an average rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Stock Performance

Crane NXT stock opened at $52.13 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.98 billion, a P/E ratio of 16.34 and a beta of 1.32. Crane NXT, Co. has a 1-year low of $50.23 and a 1-year high of $67.01. The firm has a 50-day moving average of $57.40 and a 200-day moving average of $58.00.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Sell-side analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were given a dividend of $0.17 per share. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Friday, February 28th. Crane NXT’s payout ratio is presently 21.32%.

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.