Oak Thistle LLC Invests in Crane NXT, Co. (NYSE:CXT)

Oak Thistle LLC has made a significant move by purchasing a new position in Crane NXT, Co. (NYSE:CXT) during the fourth quarter, as reported by Holdings Channel. This institutional investor acquired 3,480 shares of Crane NXT, amounting to an investment valued at approximately $203,000.

In addition to Oak Thistle, several other institutional investors and hedge funds have been active in the market for Crane NXT shares. For instance, Harbour Capital Advisors LLC also secured a new position in the company during the fourth quarter, with an investment totaling $473,000. Furthermore, Lord Abbett & Co. LLC raised its stake in Crane NXT by 12.3% during the third quarter. It now owns 396,152 shares valued at about $22,224,000 after purchasing an extra 43,439 shares during that time.

Other recent activities include Wilmington Savings Fund Society FSB, which acquired a new position worth $32,000, and Virtu Financial LLC, which purchased shares valued at approximately $377,000. Moreover, Geode Capital Management LLC increased its stake by 6.4% during the third quarter, now holding 1,000,796 shares valued at $56,157,000 after acquiring an additional 60,468 shares. In total, hedge funds and other institutional investors now own about 77.49% of Crane NXT's stock.

Current Stock Performance

The stock of Crane NXT, traded under the ticker symbol CXT, opened at $63.72 on Friday. The company has seen fluctuations over the past year, with a 52-week low of $52.89 and a high of $65.14. Its financial structure includes a quick ratio of 1.01, a current ratio of 1.38, and a debt-to-equity ratio of 0.60. With a market capitalization of $3.64 billion, Crane NXT has a price-to-earnings (P/E) ratio of 20.89 and a beta of 1.35. The stock's 50-day moving average stands at $59.64, while its 200-day average is at $58.10.

On November 6th, the company reported its quarterly earnings. Crane NXT achieved earnings per share (EPS) of $1.16 for the quarter, surpassing the consensus estimate of $1.14 by a small margin of $0.02. Revenues for the quarter reached $403.50 million, exceeding analysts' expectations of $392.44 million. The firm reported a return on equity of 23.46% and a net margin of 12.18%, with revenue increasing by 14.3% year-over-year compared to the previous period when it recorded an EPS of $1.09. Analysts predict that Crane NXT will achieve an EPS of 4.26 for the current year.

Dividend Announcement

Crane NXT also revealed its quarterly dividend, which was distributed on December 11th. Shareholders of record as of November 29th received a dividend of $0.16 per share, making the annualized dividend $0.64, which corresponds to a yield of 1.00%. The company's dividend payout ratio (DPR) stands at 20.98%.

Analyst Insights

Various analysts have evaluated Crane NXT and adjusted their price targets accordingly. Northland Securities downgraded their price target from $96.00 to $85.00 while maintaining an “outperform” rating for the company. On the other hand, Robert W. Baird raised their target price from $77.00 to $78.00, also providing an “outperform” rating. DA Davidson has reiterated a “buy” rating for Crane NXT, setting a price target of $100.00. Additionally, Baird R W has upgraded Crane NXT shares to a “strong-buy” rating.

About Crane NXT

Crane NXT, Co. operates as an industrial technology firm that focuses on delivering technology solutions aimed at securing, detecting, and authenticating essential customer assets. The company operates through two main segments: Crane Payment Innovations and Crane Currency. The Crane Payment Innovations segment provides electronic equipment and software solutions along with advanced automation systems, processing solutions, remote diagnostics, and productivity software.

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