PNC Financial Services Group Inc. Sells 255 Shares of Crane NXT, Co. (NYSE:CXT)

PNC Financial Services Group Inc. reduced its stake in shares of Crane NXT, Co. (NYSE:CXT) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,205 shares of the company’s stock after selling 255 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Crane NXT were worth $523,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Citigroup Inc. bought a new stake in Crane NXT during the 3rd quarter valued at $785,000. Invesco Ltd. purchased a new position in shares of Crane NXT in the third quarter valued at about $31,482,000. Acadian Asset Management LLC purchased a new stake in shares of Crane NXT during the third quarter worth about $28,000. Stifel Financial Corp bought a new stake in shares of Crane NXT in the third quarter worth about $1,853,000. Finally, Federated Hermes Inc. bought a new stake in shares of Crane NXT in the third quarter worth about $204,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

CXT has been the subject of several research analyst reports. Northland Securities started coverage on Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective for the company. DA Davidson lifted their price target on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

Crane NXT Stock Performance

Shares of CXT opened at $60.10 on Friday. The company has a 50-day simple moving average of $61.53 and a two-hundred day simple moving average of $59.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.12 and a quick ratio of 1.56. The firm has a market capitalization of $3.43 billion, a PE ratio of 18.96 and a beta of 1.35. Crane NXT, Co. has a one year low of $48.42 and a one year high of $64.80.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, May 8th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $313.60 million during the quarter, compared to analysts’ expectations of $311.72 million. Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. On average, analysts anticipate that Crane NXT, Co. will post 4.3 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, May 31st. Crane NXT’s dividend payout ratio is presently 20.19%.

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.