Bank of New York Mellon Corp Has $23.67 Million Position in Crane NXT, Co. (NYSE:CXT)

Bank of New York Mellon Corp lowered its position in Crane NXT, Co. (NYSE:CXT) by 2.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 460,477 shares of the company’s stock after selling 12,589 shares during the period. Bank of New York Mellon Corp owned 0.80% of Crane NXT worth $23,669,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Capital International Investors raised its stake in Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock valued at $78,658,000 after acquiring an additional 597,537 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in shares of Crane NXT by 95.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company’s stock valued at $59,470,000 after purchasing an additional 499,290 shares during the period. Norges Bank bought a new position in shares of Crane NXT during the fourth quarter valued at approximately $26,754,000. Conestoga Capital Advisors LLC raised its holdings in shares of Crane NXT by 83.5% during the first quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company’s stock valued at $51,048,000 after acquiring an additional 451,814 shares in the last quarter. Finally, FMR LLC raised its holdings in 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 purchasing an additional 336,765 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Analysts Set New Price Targets

CXT has been the topic of a number of analyst reports. UBS Group lowered their price objective on Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. DA Davidson lowered their price target on 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 equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.75.

Crane NXT Trading Up 1.7%

Shares of NYSE CXT opened at $57.42 on Friday. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 19.73 and a beta of 1.29. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.01. The stock’s 50 day simple moving average is $55.03 and its 200 day simple moving average is $54.89.

Crane NXT (NYSE:CXT) last posted its earnings results 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. The company had revenue of $330.30 million during the quarter, compared to analysts’ expectations of $318.46 million. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. Crane NXT’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. Equities research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT’s dividend payout ratio (DPR) is currently 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.