Invesco Ltd. Buys 175,771 Shares of Crane NXT, Co. $CXT

Invesco Ltd. boosted its stake in Crane NXT, Co. (NYSE:CXT) by 16.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,240,520 shares of the company’s stock after purchasing an additional 175,771 shares during the quarter. Invesco Ltd.’s holdings in Crane NXT were worth $66,864,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in Crane NXT by 173.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company’s stock valued at $55,750,000 after buying an additional 687,738 shares during the period. Norges Bank bought a new position in Crane NXT in the second quarter valued at approximately $32,163,000. Wellington Management Group LLP raised its position in Crane NXT by 16.2% during the first quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company’s stock valued at $188,584,000 after purchasing an additional 512,813 shares in the last quarter. Congress Asset Management Co. lifted its stake in Crane NXT by 40.4% during the second quarter. Congress Asset Management Co. now owns 1,118,445 shares of the company’s stock worth $60,284,000 after purchasing an additional 322,033 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Crane NXT in the 1st quarter valued at $9,931,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CXT shares. DA Davidson reiterated a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a research note on Tuesday, September 23rd. Oppenheimer lifted their target price on Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.25.

Crane NXT Trading Up 0.9%

Shares of CXT stock opened at $57.13 on Thursday. The firm has a market capitalization of $3.28 billion, a P/E ratio of 21.32 and a beta of 1.18. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $69.00. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $61.86 and its 200 day simple moving average is $59.47.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, June 1st. The company reported $1.81 EPS for the quarter. The firm had revenue of $871.50 million during the quarter. Crane NXT had a return on equity of 20.24% and a net margin of 9.80%. As a group, sell-side analysts predict 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 was paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, November 28th. Crane NXT’s payout ratio is presently 25.37%.

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.