Bank of Montreal Can Decreases Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Bank of Montreal Can lowered its stake in Crane NXT, Co. (NYSE:CXT) by 51.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,811 shares of the company’s stock after selling 9,287 shares during the quarter. Bank of Montreal Can’s holdings in Crane NXT were worth $513,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after acquiring an additional 336,765 shares during the period. Vanguard Group Inc. lifted its stake in shares of Crane NXT by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock worth $345,303,000 after purchasing an additional 66,800 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Crane NXT by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company’s stock worth $183,750,000 after buying an additional 72,992 shares during the last quarter. Geode Capital Management LLC increased its holdings in Crane NXT by 6.4% during the third quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company’s stock valued at $56,157,000 after buying an additional 60,468 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in Crane NXT by 1.3% in the fourth quarter. Congress Asset Management Co. now owns 752,734 shares of the company’s stock worth $43,824,000 after acquiring an additional 9,921 shares during the period. Institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of Crane NXT stock opened at $43.41 on Tuesday. The stock’s 50-day simple moving average is $51.93 and its 200-day simple moving average is $56.71. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 13.61 and a beta of 1.21. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.01. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) 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%. As a group, 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 was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, February 28th. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio is 21.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CXT shares. Northland Securities lowered 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. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Two equities research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.33.

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.