Invesco Ltd. Grows Stock Holdings in Crane NXT, Co. $CXT

Key Points

• Invesco Ltd. increased its stake in Crane NXT, Co. by 4.0%, owning over 1 million shares worth approximately $54.7 million after the acquisition.
• Crane NXT reported $0.97 earnings per share for the last quarter, exceeding analysts' expectations, along with revenue of $404.4 million.
• The company declared a quarterly dividend of $0.17 per share, representing an annualized yield of 1.1%, to be paid on September 10th.

Invesco Ltd. lifted its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,064,749 shares of the company's stock after acquiring an additional 40,602 shares during the period. Invesco Ltd. owned 1.86% of Crane NXT worth $54,728,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CXT. Park Square Financial Group LLC acquired a new position in shares of Crane NXT during the fourth quarter valued at about $26,000. UMB Bank n.a. lifted its holdings in shares of Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after buying an additional 327 shares during the period. Quarry LP acquired a new position in shares of Crane NXT in the 4th quarter valued at about $42,000. Fifth Third Bancorp raised its holdings in Crane NXT by 46.0% in the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Crane NXT in the 1st quarter worth about $44,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Stock Up 4.9%

Shares of NYSE CXT traded up $2.9450 during midday trading on Friday, hitting $63.0950. 56,057 shares of the company's stock were exchanged, compared to its average volume of 422,288. The company has a market cap of $3.62 billion, a PE ratio of 24.07 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 debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89. The firm's fifty day simple moving average is $57.51 and its 200-day simple moving average is $54.30.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 20.22%. Research analysts predict that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. Crane NXT's dividend payout ratio (DPR) is presently 25.95%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. DA Davidson reiterated a "buy" rating and set a $85.00 price objective on shares of Crane NXT in a research note on Monday. UBS Group dropped their price target on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently 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.