Crane NXT, Co. (NYSE:CXT) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 72.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,406 shares of the company's stock after selling 21,990 shares during the period. M&T Bank Corp's holdings in Crane NXT were worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CXT. Capital International Investors boosted its stake in Crane NXT by 79.3% in the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company's stock valued at $78,658,000 after acquiring an additional 597,537 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in Crane NXT by 95.6% during the 4th 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 during the last quarter. Norges Bank purchased a new position in Crane NXT during the 4th quarter worth $26,754,000. Conestoga Capital Advisors LLC grew its stake in Crane NXT by 83.5% during the 1st quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company's stock worth $51,048,000 after buying an additional 451,814 shares during the last quarter. Finally, FMR LLC grew its stake in Crane NXT by 4.1% during the 4th quarter. FMR LLC now owns 8,576,731 shares of the company's stock valued at $499,337,000 after purchasing an additional 336,765 shares during the last quarter. 77.49% of the stock is owned by institutional investors.

Crane NXT Price Performance

Shares of CXT stock traded down $0.06 during trading hours on Friday, reaching $57.29. The company had a trading volume of 327,217 shares, compared to its average volume of 405,090. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.20. The stock has a fifty day moving average of $55.12 and a 200-day moving average of $54.87. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 19.69 and a beta of 1.29. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The business had revenue of $330.30 million for the quarter, compared to analysts' expectations of $318.46 million. During the same period last year, the firm earned $0.85 earnings per share. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT's dividend payout ratio is currently 23.37%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. DA Davidson decreased their price objective on 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 reduced their price target on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a report 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 given a strong buy rating to the stock. According to data from MarketBeat, Crane NXT has an average rating of "Moderate Buy" and an average price target of $73.75.

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.