NBC Securities Inc. Increases Stock Position in Crane NXT, Co. (NYSE:CXT)

NBC Securities Inc. grew its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 116,840.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,847 shares of the company's stock after acquiring an additional 5,842 shares during the quarter. NBC Securities Inc.'s holdings in Crane NXT were worth $300,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its stake in Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company's stock valued at $78,658,000 after purchasing an additional 597,537 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings 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 buying an additional 499,290 shares in the last quarter. Norges Bank acquired a new stake in shares of Crane NXT in the fourth quarter valued at about $26,754,000. FMR LLC lifted its stake in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company's stock worth $499,337,000 after buying an additional 336,765 shares in the last quarter. Finally, Capital World Investors purchased a new position in shares of Crane NXT in the fourth quarter worth about $10,719,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on CXT shares. Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective for the company. in a research note on Tuesday, February 18th. DA Davidson lowered their target price on Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Northland Capmk cut Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, UBS Group reduced their price objective on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Trading Up 1.4%

CXT stock traded up $0.81 during trading on Tuesday, reaching $56.33. 425,916 shares of the stock were exchanged, compared to its average volume of 397,678. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 17.66 and a beta of 1.30. The business has a 50 day moving average price of $49.62 and a 200-day moving average price of $55.66. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. On average, research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, May 30th. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

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.