M&T Bank Corp Trims Position in Crane NXT, Co. (NYSE:CXT)

M&T Bank Corp trimmed its position in Crane NXT, Co. (NYSE:CXT) by 28.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,396 shares of the company’s stock after selling 11,902 shares during the quarter. M&T Bank Corp’s holdings in Crane NXT were worth $1,770,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CXT. Stifel Financial Corp lifted its stake in Crane NXT by 60.6% in the 3rd quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock worth $2,448,000 after purchasing an additional 16,465 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Crane NXT in the fourth quarter worth $527,000. Barclays PLC raised its position in shares of Crane NXT by 45.3% in the third quarter. Barclays PLC now owns 37,663 shares of the company’s stock worth $2,113,000 after buying an additional 11,734 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Crane NXT by 12.3% during the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock valued at $22,224,000 after buying an additional 43,439 shares during the period. Finally, FORA Capital LLC purchased a new position in Crane NXT during the third quarter worth about $507,000. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CXT shares. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.33.

Crane NXT Trading Up 1.3 %

NYSE CXT opened at $54.17 on Monday. The stock’s 50-day simple moving average is $60.47 and its two-hundred day simple moving average is $58.53. Crane NXT, Co. has a twelve month low of $52.89 and a twelve month high of $67.00. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 16.98 and a beta of 1.32.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Research analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be paid a $0.17 dividend. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. Crane NXT’s dividend payout ratio is 21.32%.

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.