Retirement Systems of Alabama Has $3.35 Million Position in Crane NXT, Co. (NYSE:CXT)

Retirement Systems of Alabama lowered its stake in shares of Crane NXT, Co. (NYSE:CXT) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,680 shares of the company’s stock after selling 252 shares during the quarter. Retirement Systems of Alabama’s holdings in Crane NXT were worth $3,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT during the 3rd quarter worth $32,000. LRI Investments LLC lifted its position in Crane NXT by 1,875.0% during the 2nd quarter. LRI Investments LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 600 shares during the last quarter. nVerses Capital LLC bought a new stake in Crane NXT during the third quarter valued at about $45,000. Blue Trust Inc. grew its position in shares of Crane NXT by 27.8% in the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after purchasing an additional 205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake 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 worth $116,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Trading Down 0.2 %

Crane NXT stock opened at $56.96 on Friday. Crane NXT, Co. has a 12 month low of $52.89 and a 12 month high of $64.80. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 18.68 and a beta of 1.34. The business has a 50 day moving average price of $57.92 and a two-hundred day moving average price of $58.34. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60.

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

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. Crane NXT’s payout ratio is currently 20.98%.

Wall Street Analysts Forecast Growth

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

Crane NXT 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.