Aigen Investment Management LP Acquires New Shares in Crane NXT, Co. (NYSE:CXT)

Aigen Investment Management LP acquired a new position in Crane NXT, Co. (NYSE:CXT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,225 shares of the company’s stock, valued at approximately $304,000.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in Crane NXT during the 4th quarter valued at approximately $675,000. Charles Schwab Investment Management Inc. raised its holdings in Crane NXT by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 460,143 shares of the company’s stock worth $26,790,000 after purchasing an additional 15,280 shares during the period. Anchor Capital Advisors LLC raised its holdings in Crane NXT by 22.7% during the fourth quarter. Anchor Capital Advisors LLC now owns 26,406 shares of the company’s stock valued at $1,537,000 after acquiring an additional 4,884 shares during the period. Amalgamated Bank increased its holdings in shares of Crane NXT by 1.0% in the fourth quarter. Amalgamated Bank now owns 22,950 shares of the company’s stock worth $1,336,000 after purchasing an additional 233 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Crane NXT by 985.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock worth $95,000 after purchasing an additional 1,488 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CXT has been the subject of several recent research reports. Northland Capmk lowered Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities downgraded shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.33.

Crane NXT Stock Performance

Shares of CXT stock opened at $54.17 on Friday. The business’s fifty day simple moving average is $60.47 and its 200-day simple moving average is $58.52. The company has a market cap of $3.10 billion, a PE ratio of 16.98 and a beta of 1.32. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 12-month low of $52.89 and a 12-month high of $67.00.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. Crane NXT’s payout ratio is 21.32%.

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.