The Manufacturers Life Insurance Company Purchases New Shares in Crane NXT, Co. $CXT

The Manufacturers Life Insurance Company bought a new position in shares of Crane NXT, Co. (NYSE:CXT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 42,643 shares of the company’s stock, valued at approximately $2,182,000.

A number of other institutional investors have also recently modified their holdings of CXT. BlackRock Inc. purchased a new position in Crane NXT during the second quarter worth approximately $329,797,000. Alliancebernstein L.P. increased its position in shares of Crane NXT by 2,449.9% in the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock valued at $95,446,000 after buying an additional 1,701,361 shares in the last quarter. Channing Capital Management LLC raised its stake in shares of Crane NXT by 632.9% during the 4th quarter. Channing Capital Management LLC now owns 1,571,769 shares of the company’s stock worth $73,983,000 after buying an additional 1,357,312 shares during the period. Norges Bank acquired a new position in shares of Crane NXT during the 4th quarter worth approximately $30,057,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Crane NXT during the 2nd quarter valued at approximately $23,160,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Trading Up 2.0%

Shares of CXT stock opened at $50.13 on Thursday. The stock’s fifty day moving average is $51.15 and its two-hundred day moving average is $46.29. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.07 and a current ratio of 1.42. The firm has a market capitalization of $2.89 billion, a P/E ratio of 20.72 and a beta of 1.08. Crane NXT, Co. has a fifty-two week low of $35.71 and a fifty-two week high of $69.00.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $493.20 million during the quarter, compared to analyst estimates of $475.62 million. Crane NXT had a net margin of 7.78% and a return on equity of 19.87%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. Research analysts expect that Crane NXT, Co. will post 4.27 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 31st. Crane NXT’s dividend payout ratio is currently 29.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CXT shares. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Northland Securities set a $65.00 target price on shares of Crane NXT in a research note on Monday, August 10th. Weiss Ratings raised shares of Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Finally, Robert W. Baird set a $68.00 price objective on Crane NXT in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.20.

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.