PNC Financial Services Group Inc. Raises Holdings in Crane NXT, Co. (NYSE:CXT)

PNC Financial Services Group Inc. boosted its stake in shares of Crane NXT, Co. (NYSE:CXT) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,910 shares of the company’s stock after buying an additional 1,473 shares during the period. PNC Financial Services Group Inc.’s holdings in Crane NXT were worth $949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. LRI Investments LLC grew its position in shares of Crane NXT by 1,875.0% in the 2nd quarter. LRI Investments LLC now owns 632 shares of the company’s stock worth $39,000 after buying an additional 600 shares during the last quarter. nVerses Capital LLC acquired a new stake in Crane NXT in the third quarter valued at approximately $45,000. Hobbs Group Advisors LLC purchased a new position in Crane NXT in the second quarter worth $52,000. Blue Trust Inc. increased its position in shares of Crane NXT by 27.8% during the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after purchasing an additional 205 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after purchasing an additional 265 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Down 0.7 %

Shares of NYSE:CXT opened at $62.77 on Friday. The company has a market capitalization of $3.59 billion, a PE ratio of 20.58 and a beta of 1.33. Crane NXT, Co. has a 12-month low of $50.31 and a 12-month high of $64.80. The business has a 50 day moving average of $56.41 and a two-hundred day moving average of $58.37. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The company had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.02%. Crane NXT’s dividend payout ratio (DPR) is presently 20.98%.

Wall Street Analysts Forecast Growth

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

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.