Invenomic Capital Management LP Takes $8.14 Million Position in Crane NXT, Co. (NYSE:CXT)

Invenomic Capital Management LP acquired a new position in shares of Crane NXT, Co. (NYSE:CXT) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 139,888 shares of the company’s stock, valued at approximately $8,144,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG boosted its stake in shares of Crane NXT by 3.0% during the fourth quarter. Deutsche Bank AG now owns 5,831 shares of the company’s stock valued at $339,000 after purchasing an additional 168 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Crane NXT during the 4th quarter worth approximately $252,000. Corton Capital Inc. bought a new stake in Crane NXT during the 4th quarter worth approximately $264,000. Crestline Management LP acquired a new position in Crane NXT in the 4th quarter valued at approximately $1,007,000. Finally, Cetera Investment Advisers raised its stake in shares of Crane NXT by 176.2% during the fourth quarter. Cetera Investment Advisers now owns 17,789 shares of the company’s stock valued at $1,036,000 after acquiring an additional 11,349 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CXT shares. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target on the stock. in a report on Tuesday, February 18th. DA Davidson cut their target price on Crane NXT from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday. Finally, Northland Capmk lowered Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.33.

Crane NXT Trading Up 3.8 %

CXT opened at $52.92 on Friday. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.01. The company has a fifty day moving average of $49.15 and a 200-day moving average of $55.94. The stock has a market cap of $3.04 billion, a PE ratio of 16.59 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. On average, sell-side analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, May 30th. Crane NXT’s dividend payout ratio (DPR) is presently 23.37%.

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.