Thrivent Financial for Lutherans Acquires 89,049 Shares of Crane NXT, Co. $CXT

Thrivent Financial for Lutherans boosted its stake in shares of Crane NXT, Co. (NYSE:CXT) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,256,296 shares of the company’s stock after buying an additional 89,049 shares during the period. Thrivent Financial for Lutherans owned 2.19% of Crane NXT worth $84,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Keybank National Association OH lifted its position in shares of Crane NXT by 39.4% during the third quarter. Keybank National Association OH now owns 8,044 shares of the company’s stock valued at $540,000 after buying an additional 2,275 shares during the last quarter. Arizona State Retirement System raised its position in shares of Crane NXT by 7.4% in the 3rd quarter. Arizona State Retirement System now owns 15,277 shares of the company’s stock valued at $1,025,000 after purchasing an additional 1,049 shares during the last quarter. AE Wealth Management LLC acquired a new position in Crane NXT during the 3rd quarter valued at approximately $226,000. New York State Common Retirement Fund grew its holdings in shares of Crane NXT by 261.2% during the third quarter. New York State Common Retirement Fund now owns 76,959 shares of the company’s stock valued at $5,162,000 after buying an additional 55,650 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Crane NXT by 3.3% in the 3rd quarter. Truist Financial Corp now owns 56,970 shares of the company’s stock worth $3,821,000 after acquiring an additional 1,831 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CXT. CJS Securities raised Crane NXT to a “strong-buy” rating in a report on Thursday, December 11th. Oppenheimer lifted their target price on shares of Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Robert W. Baird reduced their price target on Crane NXT from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. Finally, Zacks Research cut Crane NXT from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Crane NXT has a consensus rating of “Moderate Buy” and an average price target of $75.80.

Crane NXT Stock Performance

Shares of CXT stock opened at $50.44 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.26. The firm has a market cap of $2.90 billion, a P/E ratio of 18.75 and a beta of 1.18. Crane NXT, Co. has a one year low of $41.54 and a one year high of $69.00. The firm’s 50 day moving average price is $51.44 and its 200-day moving average price is $58.03.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, November 5th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $445.10 million during the quarter, compared to analysts’ expectations of $431.38 million. Crane NXT had a return on equity of 20.24% and a net margin of 9.80%.Crane NXT’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Crane NXT has set its FY 2025 guidance at 4.000-4.100 EPS. As a group, equities research analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, November 28th. Crane NXT’s dividend payout ratio (DPR) is presently 25.37%.

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.