ArrowMark Colorado Holdings LLC Invests $5.71 Million in Crane NXT, Co. (NYSE:CXT)

ArrowMark Colorado Holdings LLC acquired a new stake in shares of Crane NXT, Co. (NYSE:CXT) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 101,822 shares of the company’s stock, valued at approximately $5,712,000.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC increased its holdings in shares of Crane NXT by 1,875.0% in the second quarter. LRI Investments LLC now owns 632 shares of the company’s stock valued at $39,000 after purchasing an additional 600 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Crane NXT in the 3rd quarter worth $45,000. Hobbs Group Advisors LLC purchased a new position in shares of Crane NXT during the 2nd quarter worth $52,000. Blue Trust Inc. raised its holdings in shares of Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after acquiring an additional 205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Crane NXT by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Ratings Changes

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

Crane NXT Price Performance

Shares of CXT opened at $63.25 on Tuesday. The firm has a 50-day simple moving average of $56.55 and a two-hundred day simple moving average of $58.38. The stock has a market cap of $3.62 billion, a PE ratio of 20.60 and a beta of 1.33. Crane NXT, Co. has a 1-year low of $50.31 and a 1-year high of $64.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01.

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

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.01%. The ex-dividend date 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.