Alaska Permanent Fund Corp Purchases 5,845 Shares of Crane NXT, Co. (NYSE:CXT)

Alaska Permanent Fund Corp grew its stake in Crane NXT, Co. (NYSE:CXT) by 142.5% during the fourth quarter, HoldingsChannel reports. The firm owned 9,948 shares of the company’s stock after buying an additional 5,845 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Crane NXT were worth $566,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CXT. FMR LLC acquired a new stake in Crane NXT during the 3rd quarter worth approximately $402,528,000. Vanguard Group Inc. acquired a new position in shares of Crane NXT in the 3rd quarter worth approximately $306,517,000. Victory Capital Management Inc. acquired a new position in shares of Crane NXT in the 3rd quarter worth approximately $65,919,000. Lord Abbett & CO. LLC acquired a new position in shares of Crane NXT in the 3rd quarter worth approximately $39,749,000. Finally, Pacer Advisors Inc. lifted its position in shares of Crane NXT by 8,855.4% in the 4th quarter. Pacer Advisors Inc. now owns 705,688 shares of the company’s stock worth $40,132,000 after purchasing an additional 697,808 shares during the period. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CXT shares. Northland Securities started coverage on shares of Crane NXT in a research report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price target on the stock. DA Davidson lifted their price objective on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 18th.

Crane NXT Stock Performance

NYSE:CXT opened at $62.52 on Friday. The company has a fifty day moving average of $60.35 and a 200-day moving average of $56.63. The firm has a market capitalization of $3.57 billion, a P/E ratio of 19.12 and a beta of 1.37. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66. Crane NXT, Co. has a twelve month low of $46.14 and a twelve month high of $63.89.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The business had revenue of $356.90 million during the quarter, compared to analyst estimates of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. Crane NXT’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 EPS. As a group, sell-side analysts anticipate that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.14. Crane NXT’s payout ratio is 19.57%.

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.