KBC Group NV Sells 28,271 Shares of Crane NXT, Co. (NYSE:CXT)

KBC Group NV cut its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 92.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CXT. Park Square Financial Group LLC acquired a new position in Crane NXT during the 4th quarter valued at about $26,000. UMB Bank n.a. lifted its holdings in shares of Crane NXT by 87.2% in the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after purchasing an additional 327 shares in the last quarter. Quarry LP bought a new position in shares of Crane NXT in the fourth quarter valued at approximately $42,000. Fifth Third Bancorp boosted its position in shares of Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock valued at $42,000 after buying an additional 256 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after buying an additional 206 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Stock Performance

NYSE:CXT traded down $0.67 during trading on Friday, reaching $58.63. The company's stock had a trading volume of 253,504 shares, compared to its average volume of 406,135. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 20.15 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.20. The firm has a 50 day moving average of $54.16 and a 200-day moving average of $54.92. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CXT shares. UBS Group cut their price objective on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. DA Davidson cut their price target on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Crane NXT has an average rating of "Moderate Buy" and an average price target 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.