BNP Paribas Financial Markets Makes New $1.60 Million Investment in Crane NXT, Co. (NYSE:CXT)

BNP Paribas Financial Markets acquired a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 27,437 shares of the company's stock, valued at approximately $1,597,000.

Several other large investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its holdings in shares of Crane NXT by 9.8% during the 4th quarter. Ameriprise Financial Inc. now owns 396,887 shares of the company's stock worth $23,104,000 after buying an additional 35,388 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Crane NXT by 6.0% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 107,885 shares of the company's stock valued at $6,281,000 after acquiring an additional 6,063 shares during the period. Comerica Bank boosted its stake in Crane NXT by 179.8% during the fourth quarter. Comerica Bank now owns 57,019 shares of the company's stock worth $3,320,000 after acquiring an additional 36,639 shares in the last quarter. Northern Trust Corp boosted its stake in Crane NXT by 19.8% during the fourth quarter. Northern Trust Corp now owns 450,996 shares of the company's stock worth $26,257,000 after acquiring an additional 74,580 shares in the last quarter. Finally, Quarry LP acquired a new stake in Crane NXT in the fourth quarter worth $42,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CXT. DA Davidson dropped their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a 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 for the company. in a research report on Tuesday, February 18th. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, UBS Group reduced their price objective on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Crane NXT has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Stock Up 0.0%

CXT traded up $0.02 during trading on Thursday, hitting $52.27. 413,822 shares of the company's stock were exchanged, compared to its average volume of 390,623. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The stock has a market cap of $3.00 billion, a P/E ratio of 16.39 and a beta of 1.27. The business's 50 day moving average is $49.33 and its two-hundred day moving average is $55.92. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The company had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. During the same quarter in the prior year, the business posted $0.85 EPS. The firm's revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. Crane NXT's dividend payout ratio is presently 23.37%.

Crane NXT 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.