Crane NXT, Co. (NYSE:CXT) Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Crane NXT, Co. (NYSE:CXT) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 473,066 shares of the company’s stock after selling 1,748 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Crane NXT worth $27,542,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after purchasing an additional 276 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Crane NXT during the third quarter valued at approximately $32,000. Venturi Wealth Management LLC increased its stake in shares of Crane NXT by 985.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock valued at $95,000 after acquiring an additional 1,488 shares during the period. Quest Partners LLC bought a new stake in Crane NXT during the third quarter worth approximately $181,000. Finally, Oak Thistle LLC bought a new stake in Crane NXT during the fourth quarter worth approximately $203,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.33.

Crane NXT Stock Up 1.3 %

Crane NXT stock opened at $54.17 on Friday. The company has a market capitalization of $3.10 billion, a P/E ratio of 16.98 and a beta of 1.32. The firm’s fifty day simple moving average is $60.47 and its 200-day simple moving average is $58.52. 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 1-year low of $52.89 and a 1-year high of $67.00.

Crane NXT (NYSE:CXT) last released its quarterly earnings results 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%. Sell-side 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 declared 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 represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio (DPR) is currently 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.