Bank of America Corp DE Takes Position in Crane NXT, Co. $CXT

Key Points

• Bank of America acquired 408,517 shares of Crane NXT during the second quarter, valued at approximately $20.9 million and representing a 0.71% stake. Institutional investors collectively own 77.49% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $66.83, above the stock’s reported $48.54 price.
• Crane NXT exceeded quarterly expectations, reporting $1.10 in earnings per share and $493.2 million in revenue; revenue increased 22.1% year over year. The company also pays a quarterly dividend of $0.18 per share, yielding about 1.5% annually.

Bank of America Corp DE bought a new position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 408,517 shares of the company's stock, valued at approximately $20,900,000. Bank of America Corp DE owned 0.71% of Crane NXT as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Crane NXT in the second quarter valued at $329,797,000. Norges Bank acquired a new stake in Crane NXT in the 4th quarter valued at about $30,057,000. Bank of New York Mellon Corp purchased a new position in shares of Crane NXT in the 2nd quarter valued at about $23,160,000. Ancora Advisors LLC acquired a new position in shares of Crane NXT during the second quarter worth about $20,102,000. Finally, Neumeier Poma Investment Counsel LLC acquired a new position in shares of Crane NXT during the second quarter worth about $19,212,882. Institutional investors and hedge funds own 77.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. DA Davidson reaffirmed a "buy" rating and issued a $85.00 target price on shares of Crane NXT in a report on Friday, September 18th. Northland Securities set a $65.00 price objective on shares of Crane NXT in a research report on Monday, August 10th. Robert W. Baird set a $68.00 price objective on shares of Crane NXT in a report on Friday, August 7th. Weiss Ratings raised shares of Crane NXT from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Finally, Jefferies Financial Group began coverage on shares of Crane NXT in a research note on Tuesday. They set a "buy" rating and a $60.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Crane NXT presently has a consensus rating of "Moderate Buy" and an average price target of $66.83.

Crane NXT Trading Up 0.2%

NYSE:CXT opened at $48.54 on Thursday. The company has a market capitalization of $2.79 billion, a PE ratio of 20.06 and a beta of 1.08. Crane NXT, Co. has a 52-week low of $35.71 and a 52-week high of $69.00. The stock's 50 day moving average price is $50.59 and its 200 day moving average price is $46.08. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 1.00.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. The business had revenue of $493.20 million during the quarter, compared to the consensus estimate of $475.62 million. Crane NXT had a return on equity of 19.87% and a net margin of 7.78%.The company's revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 earnings per share. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. On average, research analysts anticipate that Crane NXT, Co. will post 4.27 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 31st. Crane NXT's dividend payout ratio is 29.75%.

About Crane NXT

Crane NXT, Inc is a technology company that develops solutions for payment acceptance, cash management and brand protection. Its products are used by businesses and governments to authenticate currency, process transactions and protect products and documents from counterfeiting.

Through its Crane Payment Innovations business, the company provides banknote and coin validators, cashless payment systems, transaction-processing technology, telemetry and related software. These solutions serve industries such as vending, gaming, retail, transportation and other unattended-payment markets.

Crane NXT also operates Crane Currency, which supplies banknotes, security features and authentication technologies for central banks, commercial institutions and other organizations.

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