Madison Investment Advisors LLC Makes New Investment in Crane NXT, Co. (NYSE:CXT)

Madison Investment Advisors LLC acquired a new position in shares of Crane NXT, Co. (NYSE:CXT) in the fourth quarter, Holdings Channel reports. The fund acquired 58,098 shares of the company’s stock, valued at approximately $3,382,000.

A number of other hedge funds also recently added to or reduced their stakes in CXT. Wilmington Savings Fund Society FSB acquired a new stake in Crane NXT during the 3rd quarter worth approximately $32,000. Fifth Third Bancorp lifted its position in Crane NXT by 98.6% during the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after acquiring an additional 276 shares during the period. Venturi Wealth Management LLC lifted its position in Crane NXT by 985.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock worth $95,000 after acquiring an additional 1,488 shares during the period. Quest Partners LLC acquired a new stake in Crane NXT during the 3rd quarter worth approximately $181,000. Finally, Cascade Financial Partners LLC acquired a new stake in shares of Crane NXT in the 4th quarter valued at approximately $202,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Northland Securities cut 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. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two equities 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.33.

Crane NXT Stock Performance

NYSE CXT opened at $52.94 on Friday. Crane NXT, Co. has a 1-year low of $52.02 and a 1-year high of $67.01. The company has a market capitalization of $3.03 billion, a P/E ratio of 16.59 and a beta of 1.32. The business has a 50 day moving average price of $59.29 and a 200 day moving average price of $58.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Sell-side analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a $0.17 dividend. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.28%. The ex-dividend date was Friday, February 28th. Crane NXT’s dividend payout ratio (DPR) is presently 21.32%.

Crane NXT 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.