Northern Trust Corp Acquires 74,580 Shares of Crane NXT, Co. (NYSE:CXT)

Northern Trust Corp grew its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 19.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,996 shares of the company's stock after acquiring an additional 74,580 shares during the quarter. Northern Trust Corp owned 0.79% of Crane NXT worth $26,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock valued at $32,000 after purchasing an additional 276 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Crane NXT in the 3rd quarter valued at about $32,000. Quarry LP bought a new position in shares of Crane NXT during the 4th quarter worth approximately $42,000. Covestor Ltd boosted its stake in shares of Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after buying an additional 206 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Crane NXT by 985.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after buying an additional 1,488 shares during the last quarter. Institutional investors own 77.49% of the company's stock.

Crane NXT Stock Performance

NYSE CXT traded up $0.05 on Friday, hitting $55.03. 38,677 shares of the stock traded hands, compared to its average volume of 431,088. 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 business's fifty day moving average is $49.26 and its two-hundred day moving average is $55.94. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.00. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 17.25 and a beta of 1.27.

Crane NXT (NYSE:CXT - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $318.46 million. During the same quarter in the prior year, the company earned $0.85 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.24%. Crane NXT's dividend payout ratio is presently 23.37%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Northland Securities downgraded Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target for the company. in a research report on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. UBS Group cut their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, DA Davidson decreased their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.