Northern Trust Corp Boosts Stake in Crane NXT, Co. (NYSE:CXT)

Northern Trust Corp raised its position in shares of Crane NXT, Co. (NYSE:CXT) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 450,996 shares of the company’s stock after acquiring an additional 74,580 shares during the period. Northern Trust Corp owned approximately 0.79% of Crane NXT worth $26,257,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CXT. Barclays PLC grew its position in Crane NXT by 45.3% during the third quarter. Barclays PLC now owns 37,663 shares of the company’s stock valued at $2,113,000 after acquiring an additional 11,734 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Crane NXT during the third quarter valued at about $32,000. Harbour Capital Advisors LLC acquired a new position in shares of Crane NXT during the fourth quarter worth about $473,000. Oak Thistle LLC acquired a new position in shares of Crane NXT during the fourth quarter worth about $203,000. Finally, Park Avenue Securities LLC acquired a new position in shares of Crane NXT during the fourth quarter worth about $527,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Up 3.8%

NYSE:CXT opened at $52.92 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.01. The business’s 50-day simple moving average is $49.15 and its 200 day simple moving average is $55.95. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 16.59 and a beta of 1.27.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 EPS 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 business had revenue of $330.30 million for the quarter, compared to analysts’ expectations of $318.46 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, May 30th. Crane NXT’s dividend payout ratio (DPR) is 23.37%.

Analyst Ratings Changes

A number of brokerages have commented on CXT. DA Davidson reduced their price objective on Crane NXT from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday. Northland Securities cut Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research note on Tuesday, February 18th. Finally, Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.33.

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.