M&T Bank Corp Sells 21,990 Shares of Crane NXT, Co. (NYSE:CXT)

M&T Bank Corp cut its stake in shares of Crane NXT, Co. (NYSE:CXT) by 72.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,406 shares of the company’s stock after selling 21,990 shares during the quarter. M&T Bank Corp’s holdings in Crane NXT were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in Crane NXT during the fourth quarter valued at approximately $26,000. UMB Bank n.a. lifted its position in Crane NXT by 87.2% during the first quarter. UMB Bank n.a. now owns 702 shares of the company’s stock valued at $36,000 after purchasing an additional 327 shares during the last quarter. Quarry LP bought a new stake in Crane NXT during the fourth quarter valued at approximately $42,000. Fifth Third Bancorp lifted its position in Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock valued at $42,000 after purchasing an additional 256 shares during the last quarter. Finally, Covestor Ltd lifted its position in Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company’s stock valued at $43,000 after purchasing an additional 206 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Crane NXT Stock Up 0.3%

Shares of NYSE CXT opened at $56.49 on Thursday. The firm’s fifty day moving average is $54.90 and its 200 day moving average is $54.90. 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 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 19.41 and a beta of 1.29.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The firm had revenue of $330.30 million for the quarter, compared to analysts’ expectations of $318.46 million. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th were given 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 payout ratio is 23.37%.

Crane NXT Profile

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.