Handelsbanken Fonder AB Acquires Shares of 16,800 Crane NXT, Co. $CXT

Handelsbanken Fonder AB purchased a new position in Crane NXT, Co. (NYSE:CXT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 16,800 shares of the company’s stock, valued at approximately $791,000.

A number of other hedge funds have also recently made changes to their positions in CXT. Alliancebernstein L.P. boosted its position in shares of Crane NXT by 2,449.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock worth $95,446,000 after purchasing an additional 1,701,361 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Crane NXT in the 3rd quarter valued at approximately $35,309,000. Victory Capital Management Inc. lifted its position in Crane NXT by 19.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,635,770 shares of the company’s stock valued at $109,711,000 after acquiring an additional 260,986 shares in the last quarter. Channing Capital Management LLC bought a new position in Crane NXT in the 3rd quarter valued at approximately $14,384,000. Finally, Thornburg Investment Management Inc. bought a new position in Crane NXT in the 3rd quarter valued at approximately $9,923,000. 77.49% of the stock is owned by institutional investors.

Crane NXT Trading Down 4.2%

CXT opened at $39.08 on Thursday. Crane NXT, Co. has a 12 month low of $37.00 and a 12 month high of $69.00. The stock has a 50-day moving average of $42.54 and a 200 day moving average of $48.51. The firm has a market cap of $2.25 billion, a P/E ratio of 17.45 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, May 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Crane NXT had a return on equity of 19.59% and a net margin of 7.57%.The business had revenue of $387.70 million during the quarter, compared to analyst estimates of $378.63 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. Crane NXT has set its FY 2026 guidance at 4.100-4.400 EPS. As a group, research analysts forecast that Crane NXT, Co. will post 4.22 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Sunday, May 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, May 29th. Crane NXT’s payout ratio is 32.14%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CXT shares. DA Davidson reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Tuesday, February 17th. Robert W. Baird set a $67.00 price objective on Crane NXT in a research note on Friday, May 8th. Oppenheimer decreased their target price 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. UBS Group set a $58.00 target price on Crane NXT in a research note on Friday, February 13th. Finally, Northland Securities upgraded Crane NXT from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.40.

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.