Royal Bank of Canada Purchases 118,904 Shares of Crane NXT, Co. (NYSE:CXT)

Royal Bank of Canada raised its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 103.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,405 shares of the company's stock after buying an additional 118,904 shares during the period. Royal Bank of Canada owned about 0.41% of Crane NXT worth $13,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CXT. Fifth Third Bancorp raised its stake in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock valued at $32,000 after acquiring an additional 276 shares during the period. Quarry LP bought a new position in Crane NXT in the 4th quarter valued at about $42,000. Covestor Ltd increased its stake in shares of Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after purchasing an additional 206 shares during the period. Lazard Asset Management LLC bought a new position in shares of Crane NXT during the fourth quarter worth approximately $83,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Crane NXT by 985.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after purchasing an additional 1,488 shares during the period. Institutional investors own 77.49% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on CXT shares. Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a report on Tuesday, February 18th. UBS Group decreased their price target 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. 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. Finally, Northland Capmk lowered shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Three equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Price Performance

Shares of Crane NXT stock traded down $0.49 during midday trading on Friday, hitting $53.66. 456,465 shares of the company traded hands, compared to its average volume of 394,539. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 16.82 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The firm's fifty day moving average price is $49.18 and its 200-day moving average price is $55.79. 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 released its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The company had revenue of $330.30 million for the quarter, compared to analysts' expectations of $318.46 million. During the same period in the previous year, the business posted $0.85 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th will be given a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

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.