Northern Trust Corp Sells 18,767 Shares of Crane NXT, Co. $CXT

Northern Trust Corp lowered its position in Crane NXT, Co. (NYSE:CXT) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 432,229 shares of the company’s stock after selling 18,767 shares during the period. Northern Trust Corp owned 0.75% of Crane NXT worth $22,217,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Crane NXT by 13.4% in the first quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company’s stock valued at $70,312,000 after acquiring an additional 161,417 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Crane NXT by 4.0% in the first quarter. Invesco Ltd. now owns 1,064,749 shares of the company’s stock valued at $54,728,000 after purchasing an additional 40,602 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Crane NXT by 95.6% in 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 in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Crane NXT by 83.5% in the first quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company’s stock valued at $51,048,000 after purchasing an additional 451,814 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in shares of Crane NXT by 5.8% in the first quarter. Congress Asset Management Co. now owns 796,412 shares of the company’s stock valued at $40,936,000 after purchasing an additional 43,678 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

CXT has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a report on Monday, August 18th. UBS Group lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.75.

Crane NXT Price Performance

CXT opened at $59.69 on Monday. The company has a fifty day moving average price of $58.27 and a two-hundred day moving average price of $54.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. The firm has a market capitalization of $3.43 billion, a PE ratio of 22.78 and a beta of 1.37.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The firm had revenue of $404.40 million during the quarter, compared to analyst estimates of $382.79 million. As a group, analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT’s payout ratio is currently 25.95%.

Crane NXT Company 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.