Bank of New York Mellon Corp Has $23.75 Million Stake in Crane NXT, Co. $CXT

Bank of New York Mellon Corp lowered its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,569 shares of the company’s stock after selling 19,908 shares during the period. Bank of New York Mellon Corp owned about 0.77% of Crane NXT worth $23,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its holdings in shares of Crane NXT by 16.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 209,365 shares of the company’s stock worth $10,761,000 after acquiring an additional 28,956 shares during the period. Financial Harvest LLC acquired a new position in Crane NXT in the first quarter worth about $139,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Crane NXT during the first quarter worth about $3,354,000. Royce & Associates LP boosted its holdings in Crane NXT by 3.8% during the first quarter. Royce & Associates LP now owns 390,638 shares of the company’s stock valued at $20,079,000 after purchasing an additional 14,217 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Crane NXT by 11.5% in the 1st quarter. Cetera Investment Advisers now owns 19,841 shares of the company’s stock valued at $1,020,000 after purchasing an additional 2,052 shares during the period. Institutional investors own 77.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CXT has been the subject of several analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, October 8th. Oppenheimer increased their price objective on Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Finally, DA Davidson restated a “buy” rating and issued a $85.00 target price on shares of Crane NXT in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.25.

Crane NXT Trading Down 2.6%

CXT stock opened at $58.58 on Friday. The business has a fifty day moving average price of $63.72 and a 200 day moving average price of $58.91. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $69.00. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 22.36 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $1.81 EPS for the quarter. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The company had revenue of $871.50 million for the quarter. Analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. Crane NXT’s dividend payout ratio is currently 25.37%.

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.