Bank of New York Mellon Corp Invests $23.16 Million in Crane NXT, Co. $CXT

Key Points

• Bank of New York Mellon purchased 452,694 shares of Crane NXT worth approximately $23.16 million, while 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 $68.20, versus the stock’s reported price of $50.28.
• Crane NXT exceeded quarterly expectations, reporting $1.10 in EPS and $493.2 million in revenue, up 22.1% year over year; it also declared a quarterly dividend of $0.18 per share.

Bank of New York Mellon Corp purchased a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 452,694 shares of the company's stock, valued at approximately $23,160,000. Bank of New York Mellon Corp owned 0.79% of Crane NXT as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Alliancebernstein L.P. boosted its holdings in shares of Crane NXT by 2,449.9% in the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company's stock worth $95,446,000 after acquiring an additional 1,701,361 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Crane NXT by 632.9% during the 4th quarter. Channing Capital Management LLC now owns 1,571,769 shares of the company's stock worth $73,983,000 after acquiring an additional 1,357,312 shares during the last quarter. Norges Bank bought a new stake in shares of Crane NXT during the 4th quarter worth $30,057,000. New York State Common Retirement Fund grew its position in Crane NXT by 409.6% in the fourth quarter. New York State Common Retirement Fund now owns 392,187 shares of the company's stock worth $18,460,000 after acquiring an additional 315,228 shares in the last quarter. Finally, KLCM Advisors Inc. purchased a new position in Crane NXT in the first quarter worth $10,874,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CXT. Northland Securities set a $65.00 price objective on Crane NXT in a report on Monday, August 10th. Weiss Ratings raised Crane NXT from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Robert W. Baird set a $68.00 target price on Crane NXT in a research report on Friday, August 7th. Finally, Zacks Research upgraded Crane NXT from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.20.

Crane NXT Trading Up 0.3%

NYSE CXT opened at $50.28 on Monday. Crane NXT, Co. has a 1-year low of $35.71 and a 1-year high of $69.00. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average of $50.92 and a 200-day moving average of $46.37. The firm has a market cap of $2.89 billion, a PE ratio of 20.78 and a beta of 1.09.

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

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, August 31st. Crane NXT's dividend payout ratio is currently 29.75%.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.

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