Comerica Bank Boosts Holdings in Crane NXT, Co. $CXT

Key Points

• Comerica Bank increased its stake in Crane NXT, Co. by 66.1% during the first quarter, owning approximately $4.87 million worth of the company's stock.
• Crane NXT recently announced a quarterly dividend of $0.17 per share, reflecting an annualized rate of $0.68 and a yield of 1.1%.
• The company's stock has a market capitalization of $3.43 billion, with a 1-year high of $67.00 and a low of $41.54.

Comerica Bank increased its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 66.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,697 shares of the company's stock after purchasing an additional 37,678 shares during the period. Comerica Bank owned 0.17% of Crane NXT worth $4,867,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Fifth Third Bancorp lifted its stake in shares of Crane NXT by 46.0% in the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after acquiring an additional 256 shares during the period. GAMMA Investing LLC lifted its stake in shares of Crane NXT by 5,320.8% in the 1st quarter. GAMMA Investing LLC now owns 133,948 shares of the company's stock worth $6,885,000 after acquiring an additional 131,477 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Crane NXT by 46.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company's stock worth $381,000 after acquiring an additional 2,074 shares during the period. UMB Bank n.a. lifted its stake in shares of Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after acquiring an additional 327 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of Crane NXT by 18.9% in the 1st quarter. LPL Financial LLC now owns 60,611 shares of the company's stock worth $3,115,000 after acquiring an additional 9,617 shares during the period. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Price Performance

Shares of CXT traded up $0.98 during trading hours on Thursday, reaching $61.73. The company had a trading volume of 350,148 shares, compared to its average volume of 423,932. The firm has a 50 day simple moving average of $58.72 and a 200-day simple moving average of $54.29. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 23.56 and a beta of 1.37. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.00.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. The business had revenue of $404.40 million during the quarter, compared to the consensus estimate of $382.79 million. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. Research analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 29th. Crane NXT's dividend payout ratio (DPR) is currently 25.95%.

Analysts Set New Price Targets

Several analysts have recently commented on CXT shares. UBS Group reduced their target price on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. DA Davidson restated a "buy" rating and issued a $85.00 target price on shares of Crane NXT in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.75.

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.