Silvercrest Asset Management Group LLC Buys 499,290 Shares of Crane NXT, Co. (NYSE:CXT)

Silvercrest Asset Management Group LLC lifted its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 95.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,021,474 shares of the company’s stock after purchasing an additional 499,290 shares during the period. Silvercrest Asset Management Group LLC owned about 1.79% of Crane NXT worth $59,470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CXT. Capital International Investors grew its position in shares of Crane NXT by 79.3% in the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock valued at $78,658,000 after purchasing an additional 597,537 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new position in Crane NXT during the 4th quarter valued at about $31,517,000. Norges Bank bought a new stake in shares of Crane NXT during the fourth quarter valued at about $26,754,000. FMR LLC lifted its holdings in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after buying an additional 336,765 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of Crane NXT in the fourth quarter valued at approximately $10,719,000. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Trading Up 0.3%

NYSE CXT opened at $55.18 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $49.26 and its two-hundred day simple moving average is $55.94. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.01. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 17.30 and a beta of 1.27.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $330.30 million for the quarter, compared to analysts’ expectations of $318.46 million. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Crane NXT’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. Research analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, May 30th. Crane NXT’s dividend payout ratio is currently 23.37%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. DA Davidson reduced their price target on shares of Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, May 9th. UBS Group reduced their target price on Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.75.

Crane NXT Company 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.