Hunter Perkins Capital Management LLC Makes New $716,000 Investment in Crane NXT, Co. $CXT

Hunter Perkins Capital Management LLC acquired a new position in Crane NXT, Co. (NYSE:CXT) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 15,210 shares of the company’s stock, valued at approximately $716,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Congress Asset Management Co. increased its position in Crane NXT by 4.3% during the 4th quarter. Congress Asset Management Co. now owns 1,216,829 shares of the company’s stock worth $57,276,000 after purchasing an additional 49,669 shares in the last quarter. SG Americas Securities LLC raised its holdings in Crane NXT by 432.3% in the fourth quarter. SG Americas Securities LLC now owns 60,990 shares of the company’s stock valued at $2,871,000 after buying an additional 49,533 shares during the period. Park Avenue Securities LLC lifted its position in Crane NXT by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 14,626 shares of the company’s stock valued at $688,000 after buying an additional 458 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Crane NXT by 6.3% during the third quarter. CIBC Private Wealth Group LLC now owns 3,472 shares of the company’s stock valued at $233,000 after buying an additional 206 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in Crane NXT during the third quarter worth approximately $515,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Robert W. Baird set a $73.00 target price on shares of Crane NXT in a research note on Friday, February 13th. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. DA Davidson reissued a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Tuesday, February 17th. CJS Securities upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Northland Securities set a $62.00 target price on Crane NXT in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.60.

Crane NXT Stock Performance

Crane NXT stock opened at $41.15 on Friday. Crane NXT, Co. has a 12-month low of $40.01 and a 12-month high of $69.00. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 16.40 and a beta of 1.18. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20. The firm’s fifty day moving average price is $48.69 and its 200 day moving average price is $54.79.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The company had revenue of $476.90 million during the quarter, compared to analysts’ expectations of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. On average, research analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Saturday, February 28th were issued a $0.18 dividend. This is an increase from Crane NXT’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, February 27th. Crane NXT’s dividend payout ratio (DPR) is currently 28.69%.

About Crane NXT

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.