Ameriprise Financial Inc. Acquires 35,388 Shares of Crane NXT, Co. (NYSE:CXT)

Ameriprise Financial Inc. lifted its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 396,887 shares of the company's stock after acquiring an additional 35,388 shares during the period. Ameriprise Financial Inc. owned approximately 0.69% of Crane NXT worth $23,104,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CXT. Fifth Third Bancorp raised its stake in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after acquiring an additional 276 shares in the last quarter. Quarry LP acquired a new stake in shares of Crane NXT during the 4th quarter worth about $42,000. Covestor Ltd lifted its holdings in Crane NXT by 38.6% during the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after purchasing an additional 206 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Crane NXT by 985.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock valued at $95,000 after buying an additional 1,488 shares in the last quarter. Finally, Cascade Financial Partners LLC bought a new stake in Crane NXT during the fourth quarter worth about $202,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. DA Davidson lowered their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Northland Securities lowered Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a research report on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, UBS Group decreased their price target on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Three 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 MarketBeat.com, Crane NXT currently has an average rating of "Moderate Buy" and a consensus target price of $73.75.

Crane NXT Trading Up 0.2%

Shares of NYSE CXT traded up $0.12 during trading on Tuesday, reaching $54.81. The company had a trading volume of 22,026 shares, compared to its average volume of 388,575. The company's fifty day moving average price is $49.33 and its 200-day moving average price is $55.96. 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 stock has a market cap of $3.14 billion, a P/E ratio of 17.18 and a beta of 1.27. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The business had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. During the same period in the prior year, the firm earned $0.85 earnings per share. Crane NXT's revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. Crane NXT's payout ratio is 23.37%.

Crane NXT 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.