Crane NXT, Co. (NYSE:CXT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Crane NXT, Co. (NYSE:CXT) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 342,711 shares of the company’s stock after selling 26,204 shares during the quarter. Principal Financial Group Inc.’s holdings in Crane NXT were worth $19,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new position in Crane NXT in the 1st quarter valued at about $343,000. Sei Investments Co. raised its position in shares of Crane NXT by 17.9% in the first quarter. Sei Investments Co. now owns 140,668 shares of the company’s stock valued at $8,708,000 after buying an additional 21,360 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Crane NXT by 6.0% in the first quarter. Russell Investments Group Ltd. now owns 158,411 shares of the company’s stock valued at $9,806,000 after buying an additional 8,926 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Crane NXT during the first quarter valued at approximately $227,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Crane NXT by 10.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,871 shares of the company’s stock worth $1,029,000 after acquiring an additional 1,637 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on CXT shares. Northland Securities cut their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th. DA Davidson reiterated a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research note on Monday, September 30th. Baird R W raised Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird lifted their price target on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

Crane NXT Stock Down 0.6 %

Shares of CXT opened at $55.29 on Friday. Crane NXT, Co. has a fifty-two week low of $50.31 and a fifty-two week high of $64.80. The company’s fifty day moving average is $56.04 and its two-hundred day moving average is $58.53. The firm has a market cap of $3.16 billion, a PE ratio of 18.13 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $392.44 million. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is presently 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.