Crane NXT, Co. $CXT Shares Purchased by Bank of America Corp DE

Bank of America Corp DE grew its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 38.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 449,024 shares of the company's stock after acquiring an additional 125,207 shares during the quarter. Bank of America Corp DE owned 0.78% of Crane NXT worth $18,226,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Camelot Portfolios LLC acquired a new stake in Crane NXT during the 4th quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Crane NXT by 4,458.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 547 shares of the company's stock valued at $26,000 after buying an additional 535 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of Crane NXT in the third quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its stake in shares of Crane NXT by 4,080.0% in the second quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company's stock worth $34,000 after buying an additional 612 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Crane NXT by 120.3% during the first quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $37,000 after acquiring an additional 391 shares during the period. Institutional investors and hedge funds own 77.49% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CXT shares. Weiss Ratings raised shares of 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 price target on shares of Crane NXT in a research report on Friday, August 7th. Zacks Research raised shares of Crane NXT from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Finally, Northland Securities set a $65.00 price objective on shares of Crane NXT in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.20.

Crane NXT Stock Performance

CXT opened at $48.68 on Thursday. Crane NXT, Co. has a twelve month low of $35.71 and a twelve month high of $69.00. The firm has a market capitalization of $2.80 billion, a PE ratio of 20.12 and a beta of 1.09. 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 firm's 50-day moving average price is $50.09 and its 200 day moving average price is $46.50.

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

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 31st. Crane NXT's dividend payout ratio is presently 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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