Crane NXT, Co. (NYSE:CXT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Crane NXT, Co. (NYSE:CXT) by 7.1% during the third quarter, HoldingsChannel.com reports. The fund owned 342,711 shares of the company’s stock after selling 26,204 shares during the period. Principal Financial Group Inc.’s holdings in Crane NXT were worth $19,225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lord Abbett & CO. LLC increased its stake in Crane NXT by 12.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock worth $22,224,000 after purchasing an additional 43,439 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Crane NXT during the third quarter valued at approximately $32,000. Virtu Financial LLC purchased a new stake in shares of Crane NXT in the 3rd quarter valued at approximately $377,000. Geode Capital Management LLC boosted its stake in Crane NXT by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company’s stock worth $56,157,000 after purchasing an additional 60,468 shares during the period. Finally, M&T Bank Corp grew its position in Crane NXT by 45.0% during the 3rd quarter. M&T Bank Corp now owns 42,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 13,121 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Price Performance

NYSE CXT opened at $58.20 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.33 billion, a PE ratio of 19.08 and a beta of 1.34. Crane NXT, Co. has a 12-month low of $52.89 and a 12-month high of $64.80. The company has a 50 day moving average price of $58.08 and a two-hundred day moving average price of $58.21.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. The firm had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, equities analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.10%. Crane NXT’s dividend payout ratio (DPR) is presently 20.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities decreased their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Robert W. Baird boosted their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th.

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.