Connor Clark & Lunn Investment Management Ltd. Purchases 50,286 Shares of Crane NXT, Co. (NYSE:CXT)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 84.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,177 shares of the company’s stock after acquiring an additional 50,286 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Crane NXT worth $6,415,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Crane NXT during the 3rd quarter valued at $32,000. Fifth Third Bancorp grew its stake in shares of Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after buying an additional 276 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Crane NXT by 985.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock valued at $95,000 after buying an additional 1,488 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Crane NXT in the third quarter worth about $181,000. Finally, Cascade Financial Partners LLC bought a new stake in shares of Crane NXT in the 4th quarter valued at about $202,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a report on Tuesday, February 18th. Two 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 company. According to data from MarketBeat, Crane NXT presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

Crane NXT Price Performance

CXT opened at $54.59 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The stock has a market capitalization of $3.12 billion, a PE ratio of 17.11 and a beta of 1.32. The stock’s 50 day moving average price is $59.95 and its 200-day moving average price is $58.36. Crane NXT, Co. has a 52-week low of $52.05 and a 52-week high of $67.00.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. On average, equities research analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.25%. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. Crane NXT’s payout ratio is presently 21.32%.

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.