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

M&T Bank Corp trimmed its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,396 shares of the company's stock after selling 11,902 shares during the quarter. M&T Bank Corp owned 0.05% of Crane NXT worth $1,770,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC purchased a new position in shares of Crane NXT during the fourth quarter valued at approximately $31,517,000. Potrero Capital Research LLC purchased a new position in Crane NXT during the 3rd quarter valued at $5,734,000. ArrowMark Colorado Holdings LLC purchased a new position in shares of Crane NXT during the 3rd quarter worth approximately $5,712,000. Geode Capital Management LLC lifted its stake in shares of Crane NXT by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company's stock valued at $56,157,000 after purchasing an additional 60,468 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Crane NXT by 437.3% during the third quarter. Jane Street Group LLC now owns 67,092 shares of the company's stock valued at $3,764,000 after purchasing an additional 54,606 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Stock Down 1.5 %

Shares of NYSE:CXT traded down $0.79 on Thursday, hitting $52.12. 365,948 shares of the company traded hands, compared to its average volume of 457,410. The stock has a 50 day simple moving average of $60.18 and a 200-day simple moving average of $58.43. 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 cap of $2.98 billion, a PE ratio of 16.34 and a beta of 1.32. Crane NXT, Co. has a 52 week low of $52.05 and a 52 week high of $67.00.

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Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. As a group, research analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a $0.17 dividend. The ex-dividend date was Friday, February 28th. This is a boost from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.30%. Crane NXT's dividend payout ratio is 21.32%.

Wall Street Analyst Weigh In

Several brokerages have commented on CXT. Northland Securities lowered Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective for the company. in a research report on Tuesday, February 18th. Northland Capmk cut shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Two 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.33.

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.