Bessemer Group Inc. Boosts Stock Holdings in Crane NXT, Co. $CXT

Bessemer Group Inc. increased its position in shares of Crane NXT, Co. (NYSE:CXT) by 16.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 444,104 shares of the company’s stock after buying an additional 64,222 shares during the period. Bessemer Group Inc.’s holdings in Crane NXT were worth $29,787,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new position in shares of Crane NXT in the second quarter worth about $25,000. Quent Capital LLC purchased a new position in shares of Crane NXT in the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its holdings in Crane NXT by 4,080.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock worth $34,000 after purchasing an additional 612 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in Crane NXT during the third quarter worth approximately $34,000. Finally, Jones Financial Companies Lllp grew its holdings in Crane NXT by 120.3% in the first quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $37,000 after purchasing an additional 391 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Trading Up 5.9%

Shares of CXT stock opened at $56.09 on Friday. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $69.00. 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 stock’s fifty day moving average is $51.11 and its two-hundred day moving average is $57.86. The firm has a market capitalization of $3.22 billion, a P/E ratio of 20.93 and a beta of 1.18.

Crane NXT (NYSE:CXT) last issued 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 business had revenue of $445.10 million during the quarter, compared to analysts’ expectations of $431.38 million. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. Research analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CXT shares. Zacks Research raised Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird cut their price target on shares of 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 reaffirmed a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, January 21st. 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 research report on Wednesday, October 15th. Finally, CJS Securities upgraded shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.80.

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.