Crane NXT, Co. $CXT Position Increased by RNC Capital Management LLC

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 raised its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 41.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,585 shares of the company's stock after purchasing an additional 5,470 shares during the period. RNC Capital Management LLC's holdings in Crane NXT were worth $955,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CXT. Wellington Management Group LLP grew its position in shares of Crane NXT by 16.2% during the first quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock worth $188,584,000 after acquiring an additional 512,813 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Crane NXT by 13.4% during the first quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company's stock worth $70,312,000 after acquiring an additional 161,417 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Crane NXT by 173.3% during the first quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company's stock worth $55,750,000 after acquiring an additional 687,738 shares during the last quarter. Invesco Ltd. grew its position in shares of Crane NXT by 4.0% during the first quarter. Invesco Ltd. now owns 1,064,749 shares of the company's stock worth $54,728,000 after acquiring an additional 40,602 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its position in shares of Crane NXT by 95.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company's stock worth $59,470,000 after acquiring an additional 499,290 shares during the last quarter. Institutional investors own 77.49% of the company's stock.

Crane NXT Price Performance

Shares of NYSE CXT opened at $61.11 on Monday. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.00. 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 $3.51 billion, a price-to-earnings ratio of 23.32 and a beta of 1.37. The firm has a 50-day moving average of $58.87 and a two-hundred day moving average of $54.23.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The company had revenue of $404.40 million during the quarter, compared to the consensus estimate of $382.79 million. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Crane NXT's dividend payout ratio is currently 25.95%.

Wall Street Analysts Forecast Growth

CXT has been the subject of several recent research reports. UBS Group lowered 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. DA Davidson reiterated a "buy" rating and issued 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $73.75.

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.

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