Ameriprise Financial Inc. Increases Holdings in Crane NXT, Co. $CXT

Key Points

• Ameriprise Financial Inc. increased its stake in Crane NXT by 173.3%, holding over 1 million shares worth approximately $55.75 million at the end of the reporting period.
• Analysts have mixed views on Crane NXT, with DA Davidson giving a "buy" rating and a price target of $85.00, while UBS Group lowered its price target from $62.00 to $60.00.
• Crane NXT has declared a quarterly dividend of $0.17 per share, with an annualized payout representing a yield of 1.1% and a payout ratio of 25.95%.

Ameriprise Financial Inc. increased its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 173.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,084,625 shares of the company's stock after buying an additional 687,738 shares during the quarter. Ameriprise Financial Inc. owned about 1.89% of Crane NXT worth $55,750,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CXT. Park Square Financial Group LLC acquired a new stake in Crane NXT during the fourth quarter worth $26,000. UMB Bank n.a. grew its stake in Crane NXT by 87.2% during the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after purchasing an additional 327 shares in the last quarter. Quarry LP acquired a new position in Crane NXT during the 4th quarter worth $42,000. Fifth Third Bancorp grew its stake in Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Crane NXT during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Analysts Set New Price Targets

CXT has been the subject of a number of recent analyst reports. UBS Group decreased their price target on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. DA Davidson restated a "buy" rating and issued a $85.00 price target on shares of Crane NXT in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Performance

CXT opened at $61.11 on Thursday. The stock's 50 day simple moving average is $58.06 and its 200 day simple moving average is $54.26. The stock has a market cap of $3.51 billion, a P/E ratio of 23.32 and a beta of 1.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.00.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. The firm had revenue of $404.40 million for the quarter, compared to analysts' expectations of $382.79 million. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. As a group, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT's dividend payout ratio is currently 25.95%.

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.

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