Royal Bank of Canada Sells 31,149 Shares of Crane NXT, Co. $CXT

Key Points

• Royal Bank of Canada has reduced its stake in Crane NXT, Co. by 13.3%, selling 31,149 shares, and now owns 202,256 shares valued at approximately $10.4 million.
• Crane NXT recently reported $0.97 earnings per share for the quarter, exceeding analysts' estimates, and had a revenue of $404.4 million.
• The company announced a quarterly dividend of $0.17 per share, representing an annualized yield of 1.1% with a dividend payout ratio of 25.95%.

Royal Bank of Canada reduced its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 13.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,256 shares of the company's stock after selling 31,149 shares during the quarter. Royal Bank of Canada owned 0.35% of Crane NXT worth $10,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CXT. Ameriprise Financial Inc. grew its stake in shares of Crane NXT by 9.8% during the fourth quarter. Ameriprise Financial Inc. now owns 396,887 shares of the company's stock valued at $23,104,000 after buying an additional 35,388 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Crane NXT during the fourth quarter valued at about $1,597,000. Captrust Financial Advisors bought a new position in shares of Crane NXT during the fourth quarter valued at about $283,000. Cetera Investment Advisers grew its stake in shares of Crane NXT by 176.2% during the fourth quarter. Cetera Investment Advisers now owns 17,789 shares of the company's stock valued at $1,036,000 after buying an additional 11,349 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Crane NXT by 3.0% during the fourth quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock valued at $339,000 after buying an additional 168 shares during the last quarter. 77.49% of the stock is owned by institutional investors.

Crane NXT Stock Performance

Crane NXT stock opened at $61.91 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average of $59.32 and a 200-day moving average of $54.38. The firm has a market cap of $3.55 billion, a P/E ratio of 23.63 and a beta of 1.37. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.00.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. The company had revenue of $404.40 million during 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%. Sell-side analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

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

Analyst Ratings Changes

Separately, DA Davidson reiterated a "buy" rating and set a $85.00 target price on shares of Crane NXT in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT 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.

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