Truist Financial Corp Has $5.85 Million Stock Position in Crane NXT, Co. (NYSE:CXT)

Truist Financial Corp reduced its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,839 shares of the company's stock after selling 12,404 shares during the period. Truist Financial Corp owned 0.18% of Crane NXT worth $5,848,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC acquired a new position in Crane NXT during the 3rd quarter valued at about $402,528,000. Vanguard Group Inc. bought a new position in Crane NXT in the 3rd quarter worth approximately $306,517,000. Victory Capital Management Inc. acquired a new stake in Crane NXT in the 3rd quarter valued at approximately $65,919,000. Lord Abbett & CO. LLC bought a new stake in Crane NXT during the 3rd quarter valued at $39,749,000. Finally, Pacer Advisors Inc. boosted its position in Crane NXT by 8,855.4% during the 4th quarter. Pacer Advisors Inc. now owns 705,688 shares of the company's stock worth $40,132,000 after acquiring an additional 697,808 shares during the period. 77.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CXT. Northland Securities started coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an "outperform" rating and a $91.00 price objective for the company. DA Davidson increased their price objective on shares of Crane NXT from $80.00 to $100.00 and gave the company a "buy" rating in a report on Monday, March 18th.

Crane NXT Price Performance

CXT stock traded up $0.56 during trading hours on Friday, hitting $61.52. 160,704 shares of the stock traded hands, compared to its average volume of 280,083. The stock has a 50-day simple moving average of $60.60 and a 200 day simple moving average of $57.00. The company has a market cap of $3.51 billion, a P/E ratio of 18.81 and a beta of 1.36. Crane NXT, Co. has a one year low of $46.14 and a one year high of $63.89. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The company had revenue of $356.90 million during the quarter, compared to analyst estimates of $340.89 million. During the same quarter last year, the firm posted $2.13 EPS. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were paid a $0.16 dividend. The ex-dividend date was Wednesday, February 28th. This is an increase from Crane NXT's previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. Crane NXT's dividend payout ratio is 19.57%.

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.