Royce & Associates LP Buys 14,217 Shares of Crane NXT, Co. (NYSE:CXT)

Key Points

• Royce & Associates LP increased its stake in Crane NXT by 3.8% in Q1, acquiring an additional 14,217 shares, bringing its total to approximately 390,638 shares valued at $20 million.
• Crane NXT's latest earnings report showed an EPS of $0.54, exceeding estimates of $0.51, with a 5.3% increase in quarterly revenue compared to the previous year.
• The company announced a $0.17 quarterly dividend, which results in an annual yield of 1.15% and a payout ratio of 23.37%.

Royce & Associates LP grew its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 390,638 shares of the company's stock after purchasing an additional 14,217 shares during the period. Royce & Associates LP owned approximately 0.68% of Crane NXT worth $20,079,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Deutsche Bank AG raised its position in shares of Crane NXT by 3.0% in the fourth quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock valued at $339,000 after purchasing an additional 168 shares during the period. Covestor Ltd increased its holdings in Crane NXT by 38.6% during the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after acquiring an additional 206 shares during the period. Corient Private Wealth LLC increased its holdings in Crane NXT by 1.2% during the 4th quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock worth $1,231,000 after acquiring an additional 254 shares during the period. Fifth Third Bancorp increased its holdings in Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after acquiring an additional 256 shares during the period. Finally, UMB Bank n.a. increased its holdings in Crane NXT by 87.2% during the 1st 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. Institutional investors own 77.49% of the company's stock.

Crane NXT Trading Up 1.5%

Shares of Crane NXT stock traded up $0.85 during trading on Friday, reaching $59.35. The company's stock had a trading volume of 310,659 shares, compared to its average volume of 318,213. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.00. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 20.40 and a beta of 1.29. The firm's 50-day moving average is $55.44 and its two-hundred day moving average is $54.86. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.49.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $318.46 million. During the same period last year, the company posted $0.85 EPS. The company's quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 annualized dividend and a yield of 1.15%. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CXT. UBS Group decreased their target price 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 decreased their target price 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus 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.