Jump Financial LLC Makes New Investment in Crane NXT, Co. (NYSE:CXT)

Jump Financial LLC acquired a new stake in shares of Crane NXT, Co. (NYSE:CXT) in the 4th quarter, HoldingsChannel reports. The fund acquired 41,391 shares of the company’s stock, valued at approximately $2,410,000.

A number of other institutional investors also recently modified their holdings of CXT. FMR LLC raised its position in Crane NXT by 4.1% during the 4th 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 last quarter. Vanguard Group Inc. raised its holdings in shares of Crane NXT by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock valued at $345,303,000 after acquiring an additional 66,800 shares in the last quarter. Wellington Management Group LLP lifted its stake in Crane NXT by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company’s stock worth $183,750,000 after acquiring an additional 72,992 shares during the period. Geode Capital Management LLC boosted its holdings 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 valued at $56,157,000 after acquiring an additional 60,468 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in Crane NXT by 1.3% during the 4th quarter. Congress Asset Management Co. now owns 752,734 shares of the company’s stock valued at $43,824,000 after purchasing an additional 9,921 shares during the period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CXT shares. Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities cut Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Crane NXT currently has a consensus rating of “Moderate Buy” and an average target price of $83.33.

Crane NXT Stock Performance

Shares of CXT stock opened at $44.65 on Friday. The company’s fifty day moving average price is $52.24 and its 200-day moving average price is $56.78. The stock has a market cap of $2.56 billion, a PE ratio of 14.00 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.01.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. On average, equities analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal 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 paid a dividend of $0.17 per share. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.52%. Crane NXT’s payout ratio is presently 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.