Bank of New York Mellon Corp Sells 12,589 Shares of Crane NXT, Co. (NYSE:CXT)

Bank of New York Mellon Corp cut its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 460,477 shares of the company's stock after selling 12,589 shares during the period. Bank of New York Mellon Corp owned 0.80% of Crane NXT worth $23,669,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Wayfinding Financial LLC acquired a new stake in Crane NXT during the first quarter worth approximately $44,000. D.A. Davidson & CO. lifted its position in Crane NXT by 7.0% during the first quarter. D.A. Davidson & CO. now owns 155,396 shares of the company's stock worth $7,987,000 after acquiring an additional 10,125 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Crane NXT during the first quarter worth approximately $365,000. Bessemer Group Inc. raised its position in shares of Crane NXT by 4.1% in the first quarter. Bessemer Group Inc. now owns 363,799 shares of the company's stock valued at $18,700,000 after buying an additional 14,317 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN raised its position in shares of Crane NXT by 2.3% in the first quarter. Kirr Marbach & Co. LLC IN now owns 96,913 shares of the company's stock valued at $4,981,000 after buying an additional 2,157 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CXT has been the subject of a number of analyst reports. DA Davidson dropped their price target 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. UBS Group dropped their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Crane NXT has an average rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Price Performance

NYSE:CXT traded down $0.21 during mid-day trading on Monday, reaching $57.05. The stock had a trading volume of 245,559 shares, compared to its average volume of 404,452. The stock has a 50-day simple moving average of $55.12 and a two-hundred day simple moving average of $54.84. The stock has a market capitalization of $3.27 billion, a PE ratio of 19.61 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 0.92. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 11.17% and a return on equity of 21.58%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. On average, equities analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were paid a $0.17 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Crane NXT's dividend payout ratio (DPR) is 23.37%.

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.