Crane NXT, Co. (NYSE:CXT) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in shares of Crane NXT, Co. (NYSE:CXT) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,325 shares of the company’s stock after purchasing an additional 415 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Crane NXT were worth $1,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CXT. Conestoga Capital Advisors LLC purchased a new stake in shares of Crane NXT during the fourth quarter worth about $31,517,000. Potrero Capital Research LLC purchased a new stake in shares of Crane NXT during the third quarter worth about $5,734,000. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Crane NXT during the third quarter worth about $5,712,000. Geode Capital Management LLC increased its position in shares of Crane NXT by 6.4% during the third quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company’s stock worth $56,157,000 after acquiring an additional 60,468 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Crane NXT by 437.3% during the third quarter. Jane Street Group LLC now owns 67,092 shares of the company’s stock worth $3,764,000 after acquiring an additional 54,606 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Stock Performance

Shares of CXT stock opened at $54.59 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $59.95 and a two-hundred day moving average of $58.36. Crane NXT, Co. has a 52 week low of $52.05 and a 52 week high of $67.00. The company has a market cap of $3.12 billion, a P/E ratio of 17.11 and a beta of 1.32.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. As a group, analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.25%. Crane NXT’s payout ratio is currently 21.32%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CXT shares. Northland Capmk lowered Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Crane NXT has an average rating of “Moderate Buy” and an average target price of $83.33.

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.