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

Principal Financial Group Inc. decreased its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,915 shares of the company's stock after selling 22,274 shares during the quarter. Principal Financial Group Inc. owned 0.65% of Crane NXT worth $22,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Congress Wealth Management LLC DE purchased a new stake in Crane NXT during the first quarter worth $5,633,000. Jump Financial LLC acquired a new stake in Crane NXT in the 4th quarter valued at about $2,428,000. Axiom Investors LLC DE grew its stake in Crane NXT by 187.9% in the 4th quarter. Axiom Investors LLC DE now owns 219,740 shares of the company's stock valued at $12,497,000 after acquiring an additional 143,410 shares during the last quarter. Brown Advisory Inc. increased its holdings in Crane NXT by 20.2% during the 4th quarter. Brown Advisory Inc. now owns 576,749 shares of the company's stock valued at $32,800,000 after acquiring an additional 97,109 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Crane NXT during the fourth quarter worth about $3,526,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Price Performance

Shares of CXT stock traded down $2.59 during trading hours on Tuesday, hitting $56.16. The company's stock had a trading volume of 425,129 shares, compared to its average volume of 327,515. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. Crane NXT, Co. has a twelve month low of $48.42 and a twelve month high of $64.80. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 17.72 and a beta of 1.34. The business has a fifty day moving average of $58.63 and a 200-day moving average of $60.10.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.02. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The company had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. During the same quarter last year, the business posted $1.12 earnings per share. Crane NXT's revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Crane NXT, Co. will post 4.28 EPS for the current year.

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. Crane NXT's dividend payout ratio is currently 20.19%.

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.