KBC Group NV Increases Position in Crane NXT, Co. (NYSE:CXT)

KBC Group NV raised its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,670 shares of the company’s stock after buying an additional 1,069 shares during the period. KBC Group NV’s holdings in Crane NXT were worth $1,786,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Atria Investments Inc boosted its position in shares of Crane NXT by 6.0% during the third quarter. Atria Investments Inc now owns 3,700 shares of the company’s stock valued at $208,000 after buying an additional 208 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Crane NXT by 1.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,923 shares of the company’s stock valued at $725,000 after acquiring an additional 245 shares in the last quarter. Cetera Trust Company N.A raised its stake in shares of Crane NXT by 7.0% during the fourth quarter. Cetera Trust Company N.A now owns 4,198 shares of the company’s stock valued at $244,000 after acquiring an additional 275 shares in the last quarter. Fifth Third Bancorp raised its stake 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 acquiring an additional 276 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of Crane NXT by 5.8% during the third quarter. Ritholtz Wealth Management now owns 6,667 shares of the company’s stock valued at $374,000 after acquiring an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Northland Securities decreased their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th.

Crane NXT Stock Performance

Shares of NYSE:CXT opened at $63.89 on Friday. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 20.95 and a beta of 1.35. Crane NXT, Co. has a 52 week low of $52.89 and a 52 week high of $67.00. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $61.30 and a 200 day moving average of $58.58.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. Crane NXT’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, sell-side analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

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.