Bank of America Corp DE Sells 23,300 Shares of Crane NXT, Co. (NYSE:CXT)

Bank of America Corp DE lessened its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 16.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,425 shares of the company's stock after selling 23,300 shares during the period. Bank of America Corp DE owned about 0.21% of Crane NXT worth $7,011,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Covestor Ltd lifted its holdings in shares of Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after acquiring an additional 206 shares during the period. Amalgamated Bank increased its position in Crane NXT by 1.0% in the fourth quarter. Amalgamated Bank now owns 22,950 shares of the company's stock worth $1,336,000 after purchasing an additional 233 shares during the period. Corient Private Wealth LLC grew its position in shares of Crane NXT by 1.2% during the 4th quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock worth $1,231,000 after buying an additional 254 shares during the period. Fifth Third Bancorp grew its position in shares of Crane NXT by 98.6% in 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. Finally, Xponance Inc. grew its position in shares of Crane NXT by 6.2% in the 4th quarter. Xponance Inc. now owns 5,587 shares of the company's stock valued at $325,000 after purchasing an additional 328 shares during the period. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Price Performance

CXT traded down $0.44 during trading on Friday, reaching $53.54. 129,917 shares of the company were exchanged, compared to its average volume of 392,584. 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 company has a market cap of $3.07 billion, a price-to-earnings ratio of 16.78 and a beta of 1.27. The company's 50-day moving average is $49.17 and its two-hundred day moving average is $55.81. 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 released its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $330.30 million during 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 quarter last year, the business posted $0.85 EPS. Research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be given a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.27%. Crane NXT's payout ratio is 23.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group reduced their price target on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. DA Davidson lowered their price objective on Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock 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 target price on the stock. in a report on Tuesday, February 18th. Finally, Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $73.75.

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.