Comerica Bank Boosts Stock Position in Crane NXT, Co. (NYSE:CXT)

Comerica Bank increased its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 179.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,019 shares of the company's stock after buying an additional 36,639 shares during the quarter. Comerica Bank owned about 0.10% of Crane NXT worth $3,320,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Crane NXT by 98.6% during the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock valued at $32,000 after purchasing an additional 276 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Crane NXT during the 3rd quarter worth about $32,000. Quarry LP acquired a new position in Crane NXT in the fourth quarter valued at about $42,000. Covestor Ltd increased its holdings in shares of Crane NXT by 38.6% in the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Crane NXT by 985.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after acquiring an additional 1,488 shares during the period. Hedge funds and other institutional investors own 77.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a 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 on the stock. in a research report on Tuesday, February 18th. Finally, DA Davidson reduced their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Crane NXT has a consensus rating of "Moderate Buy" and a consensus price target of $78.33.

Crane NXT Price Performance

CXT stock traded up $1.96 during midday trading on Friday, reaching $52.92. The company had a trading volume of 544,658 shares, compared to its average volume of 388,956. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The company has a market capitalization of $3.04 billion, a P/E ratio of 16.59 and a beta of 1.27. The firm has a 50-day moving average price of $49.15 and a 200-day moving average price of $55.94. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $330.30 million for the quarter, compared to analysts' expectations of $318.46 million. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The business's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. On average, research analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, May 30th. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

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.