RNC Capital Management LLC Buys 5,470 Shares of Crane NXT, Co. $CXT

Key Points

• RNC Capital Management LLC increased its holdings in Crane NXT, Co. by 41.7%, now owning 18,585 shares valued at approximately $955,000.
• Crane NXT recently reported earnings of $0.97 per share, exceeding analysts' expectations of $0.92, and had revenues of $404.4 million for the quarter.
• The company announced a quarterly dividend of $0.17 per share, resulting in an annualized dividend yield of 1.1%.

RNC Capital Management LLC grew its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 41.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,585 shares of the company's stock after purchasing an additional 5,470 shares during the quarter. RNC Capital Management LLC's holdings in Crane NXT were worth $955,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CXT. Ameriprise Financial Inc. lifted its position in shares of Crane NXT by 173.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company's stock valued at $55,750,000 after acquiring an additional 687,738 shares during the period. Wellington Management Group LLP lifted its position in shares of Crane NXT by 16.2% during the 1st quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock valued at $188,584,000 after acquiring an additional 512,813 shares during the period. Silvercrest Asset Management Group LLC lifted its position in shares of Crane NXT by 95.6% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company's stock valued at $59,470,000 after acquiring an additional 499,290 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of Crane NXT by 83.5% during the 1st quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company's stock valued at $51,048,000 after acquiring an additional 451,814 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Crane NXT during the 1st quarter valued at $9,931,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a "buy" rating and set a $85.00 target price on shares of Crane NXT in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Crane NXT has an average rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Down 2.5%

CXT traded down $1.54 during trading on Friday, hitting $60.39. 376,945 shares of the company's stock were exchanged, compared to its average volume of 374,707. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.73. The business's 50 day moving average is $59.40 and its two-hundred day moving average is $54.40. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.00. The stock has a market cap of $3.47 billion, a P/E ratio of 23.05 and a beta of 1.37.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The firm had revenue of $404.40 million for the quarter, compared to the consensus estimate of $382.79 million. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were issued a $0.17 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. Crane NXT's dividend payout ratio is currently 25.95%.

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.