Financial Harvest LLC Purchases New Holdings in Crane NXT, Co. (NYSE:CXT)

Financial Harvest LLC acquired a new stake in Crane NXT, Co. (NYSE:CXT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,709 shares of the company’s stock, valued at approximately $139,000.

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of Crane NXT during the fourth quarter worth approximately $26,000. UMB Bank n.a. increased its stake in Crane NXT by 87.2% during the 1st quarter. UMB Bank n.a. now owns 702 shares of the company’s stock worth $36,000 after acquiring an additional 327 shares during the period. Quarry LP bought a new position in Crane NXT during the 4th quarter worth $42,000. Fifth Third Bancorp increased its stake in Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock worth $42,000 after acquiring an additional 256 shares during the period. Finally, Covestor Ltd increased its stake in Crane NXT by 38.6% during the 4th quarter. Covestor Ltd now owns 739 shares of the company’s stock worth $43,000 after acquiring an additional 206 shares during the period. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Stock Performance

Crane NXT stock opened at $57.29 on Friday. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 19.69 and a beta of 1.29. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.20. The stock’s 50 day simple moving average is $55.12 and its two-hundred day simple moving average is $54.89.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT’s dividend payout ratio (DPR) is presently 23.37%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CXT shares. UBS Group decreased their price target on Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. DA Davidson decreased their price target on Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Three investment 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.75.

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.