RNC Capital Management LLC Buys Shares of 13,115 Crane NXT, Co. (NYSE:CXT)

RNC Capital Management LLC bought a new stake in shares of Crane NXT, Co. (NYSE:CXT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,115 shares of the company’s stock, valued at approximately $764,000.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Crane NXT in the third quarter valued at approximately $32,000. Fifth Third Bancorp increased its holdings in shares of Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after purchasing an additional 276 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Crane NXT in the third quarter valued at approximately $45,000. GAMMA Investing LLC increased its holdings in shares of Crane NXT by 17.4% in the third quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock valued at $144,000 after purchasing an additional 380 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Crane NXT in the third quarter valued at approximately $181,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CXT. Baird R W raised Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Robert W. Baird increased their price target on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

Crane NXT Price Performance

CXT stock opened at $64.06 on Friday. The business has a fifty day moving average of $61.40 and a two-hundred day moving average of $58.72. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 21.00 and a beta of 1.36. Crane NXT, Co. has a 52-week low of $52.89 and a 52-week high of $67.00.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The business had revenue of $403.50 million during the quarter, compared to analyst estimates of $392.44 million. During the same period last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, research analysts anticipate that Crane NXT, Co. will post 4.26 earnings per share for the current year.

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.