Norges Bank acquired a new stake in Crane NXT, Co. (NYSE:CXT – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 638,561 shares of the company’s stock, valued at approximately $30,057,000. Norges Bank owned 1.11% of Crane NXT at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Crane NXT by 141.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Camelot Portfolios LLC acquired a new stake in Crane NXT during the 4th quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Crane NXT during the 3rd quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Crane NXT during the 3rd quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC increased its position in Crane NXT by 4,080.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $34,000 after purchasing an additional 612 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.
Crane NXT Stock Performance
NYSE:CXT opened at $38.23 on Wednesday. The business has a 50 day moving average of $41.73 and a 200 day moving average of $47.11. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 17.06 and a beta of 1.15. Crane NXT, Co. has a 1-year low of $35.71 and a 1-year high of $69.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.33 and a quick ratio of 0.99.
Crane NXT Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Sunday, May 31st will be given a $0.18 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.9%. Crane NXT’s payout ratio is presently 32.14%.
Analyst Ratings Changes
CXT has been the subject of several recent analyst reports. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings cut Crane NXT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Oppenheimer dropped their price objective on Crane NXT from $80.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 15th. Robert W. Baird set a $67.00 target price on Crane NXT in a research note on Friday, May 8th. Finally, UBS Group set a $58.00 price objective on Crane NXT in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Crane NXT currently has an average rating of “Moderate Buy” and a consensus target price of $65.40.
Read Our Latest Stock Analysis on Crane NXT
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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.
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