Oppenheimer Asset Management Inc. Has $2.31 Million Stock Position in Crane NXT, Co. $CXT

Oppenheimer Asset Management Inc. grew its stake in shares of Crane NXT, Co. (NYSE:CXTFree Report) by 59.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,460 shares of the company’s stock after acquiring an additional 12,885 shares during the period. Oppenheimer Asset Management Inc. owned 0.06% of Crane NXT worth $2,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in Crane NXT by 141.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Quent Capital LLC bought a new position in Crane NXT during the 3rd quarter worth $28,000. AlphaQuest LLC acquired a new stake in shares of Crane NXT during the second quarter worth $25,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Crane NXT in the third quarter valued at about $34,000. Finally, Global Retirement Partners LLC grew its stake in shares of Crane NXT by 423.7% in the third quarter. Global Retirement Partners LLC now owns 618 shares of the company’s stock valued at $41,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CXT. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. CJS Securities upgraded shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird reduced their price target on Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Finally, Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crane NXT currently has a consensus rating of “Moderate Buy” and an average price target of $75.80.

Read Our Latest Report on CXT

Crane NXT Stock Performance

Shares of Crane NXT stock opened at $53.45 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69. The company has a market cap of $3.07 billion, a PE ratio of 21.30 and a beta of 1.18. The company has a 50 day moving average of $50.85 and a 200-day moving average of $57.71. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $69.00.

Crane NXT (NYSE:CXTGet Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. Crane NXT had a net margin of 8.76% and a return on equity of 20.20%. The business had revenue of $476.90 million for the quarter, compared to analysts’ expectations of $450.53 million. During the same period last year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Saturday, February 28th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, February 27th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. This is an increase from Crane NXT’s previous quarterly dividend of $0.17. Crane NXT’s dividend payout ratio is currently 25.37%.

Crane NXT News Summary

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About Crane NXT

(Free Report)

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.

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Institutional Ownership by Quarter for Crane NXT (NYSE:CXT)

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