Crane NXT, Co. (NYSE:CXT) Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Crane NXT, Co. (NYSE:CXT) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,383 shares of the company’s stock after selling 488 shares during the period. Principal Financial Group Inc. owned 0.20% of Crane NXT worth $5,828,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CXT. Deutsche Bank AG lifted its stake in Crane NXT by 3.0% in the 4th quarter. Deutsche Bank AG now owns 5,831 shares of the company’s stock worth $339,000 after acquiring an additional 168 shares in the last quarter. Covestor Ltd grew its position in Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company’s stock worth $43,000 after buying an additional 206 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Crane NXT by 1.2% during the 4th quarter. Corient Private Wealth LLC now owns 21,139 shares of the company’s stock worth $1,231,000 after acquiring an additional 254 shares during the period. Fifth Third Bancorp raised its stake in Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock worth $42,000 after acquiring an additional 256 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Crane NXT by 87.2% during the 1st quarter. UMB Bank n.a. now owns 702 shares of the company’s stock worth $36,000 after acquiring an additional 327 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Price Performance

Crane NXT stock opened at $56.49 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 0.92. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.01. The firm has a market cap of $3.24 billion, a PE ratio of 19.41 and a beta of 1.29. The stock’s fifty day moving average price is $54.90 and its two-hundred day moving average price is $54.90.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The company had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. During the same period in the prior year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT’s dividend payout ratio is currently 23.37%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CXT shares. UBS Group dropped their price target on shares of Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. DA Davidson dropped their price target on shares of Crane NXT from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.75.

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.