GAMMA Investing LLC Takes Position in Crane NXT, Co. (NYSE:CXT)

GAMMA Investing LLC bought a new stake in shares of Crane NXT, Co. (NYSE:CXT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,926 shares of the company’s stock, valued at approximately $112,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Xponance Inc. bought a new position in shares of Crane NXT during the 3rd quarter valued at approximately $319,000. Hudson Bay Capital Management LP bought a new position in Crane NXT in the 3rd quarter worth approximately $3,319,000. Clearbridge Investments LLC bought a new position in Crane NXT in the 3rd quarter worth approximately $10,781,000. Swiss National Bank bought a new position in Crane NXT in the 3rd quarter worth approximately $5,890,000. Finally, Signaturefd LLC bought a new position in Crane NXT in the 3rd quarter worth approximately $109,000. 77.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Northland Securities assumed coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective for the company. DA Davidson raised their price target on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

Crane NXT Stock Up 0.2 %

Shares of NYSE:CXT opened at $62.65 on Monday. The firm has a fifty day moving average price of $60.42 and a two-hundred day moving average price of $56.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.93 and a quick ratio of 1.46. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 19.16 and a beta of 1.37. Crane NXT, Co. has a one year low of $46.14 and a one year high of $63.89.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. The firm had revenue of $356.90 million for the quarter, compared to analysts’ expectations of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. Analysts anticipate that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Wednesday, February 28th. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. Crane NXT’s dividend payout ratio (DPR) is presently 19.57%.

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.