Crane NXT, Co. (NYSE:CXT) Position Lessened by KBC Group NV

KBC Group NV trimmed its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 92.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,399 shares of the company's stock after selling 28,271 shares during the quarter. KBC Group NV's holdings in Crane NXT were worth $123,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in shares of Crane NXT by 46.0% in the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock valued at $42,000 after purchasing an additional 256 shares during the last quarter. Norges Bank acquired a new stake in shares of Crane NXT in the fourth quarter valued at about $26,754,000. Sei Investments Co. grew its position in shares of Crane NXT by 15.0% in the fourth quarter. Sei Investments Co. now owns 143,307 shares of the company's stock valued at $8,343,000 after purchasing an additional 18,735 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Crane NXT by 5,320.8% in the first quarter. GAMMA Investing LLC now owns 133,948 shares of the company's stock valued at $6,885,000 after purchasing an additional 131,477 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Crane NXT by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company's stock valued at $381,000 after purchasing an additional 2,074 shares during the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Stock Performance

CXT stock opened at $55.39 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 0.92. The company has a 50 day moving average price of $53.51 and a 200 day moving average price of $54.87. 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 capitalization of $3.18 billion, a PE ratio of 19.03 and a beta of 1.29.

Crane NXT (NYSE:CXT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The firm had revenue of $330.30 million during the quarter, compared to analyst estimates of $318.46 million. During the same quarter in the previous year, the business earned $0.85 EPS. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT's payout ratio is presently 23.37%.

Wall Street Analysts Forecast Growth

CXT has been the subject of several research reports. DA Davidson reduced their target price on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 9th. 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. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Crane NXT currently has an average rating of "Moderate Buy" and a consensus target price of $73.75.

Crane NXT Company 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.

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