Federated Hermes Inc. Increases Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Key Points

• Federated Hermes Inc. increased its stake in Crane NXT by 44.0%, owning 44,316 shares worth approximately $2.28 million after purchasing 13,536 additional shares in Q1.
• Crane NXT's shares traded down 1.8% recently, reaching a price of $56.31 with a market capitalization of $3.23 billion.
• The company announced a quarterly dividend of $0.17 per share, resulting in an annualized yield of 1.2% and a dividend payout ratio of 23.37%.

Federated Hermes Inc. increased its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 44.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,316 shares of the company's stock after buying an additional 13,536 shares during the quarter. Federated Hermes Inc. owned about 0.08% of Crane NXT worth $2,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new stake in Crane NXT during the fourth quarter worth about $26,000. UMB Bank n.a. raised its position in Crane NXT by 87.2% during the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after acquiring an additional 327 shares during the period. Quarry LP purchased a new position in Crane NXT during the fourth quarter valued at $42,000. Covestor Ltd lifted its holdings in Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company's stock.

Analysts Set New Price Targets

CXT has been the subject of a number of research reports. DA Davidson dropped their target price on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. UBS Group lowered their price objective on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Crane NXT currently has a consensus rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Trading Up 1.4%

NYSE CXT traded up $0.81 during trading on Thursday, hitting $57.18. The stock had a trading volume of 911,668 shares, compared to its average volume of 318,606. The company has a market capitalization of $3.28 billion, a PE ratio of 14.57 and a beta of 1.33. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.00. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $56.28 and a 200 day moving average price of $54.62.

Crane NXT (NYSE:CXT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. The company had revenue of $404.40 million for the quarter, compared to analyst estimates of $382.79 million. Crane NXT had a net margin of 9.84% and a return on equity of 20.67%. As a group, equities research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th. 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.