Principal Financial Group Inc. Sells 26,204 Shares of Crane NXT, Co. (NYSE:CXT)

Principal Financial Group Inc. cut its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 342,711 shares of the company's stock after selling 26,204 shares during the quarter. Principal Financial Group Inc. owned 0.60% of Crane NXT worth $19,225,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CXT. Pacer Advisors Inc. increased its stake in Crane NXT by 93.4% in the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company's stock valued at $69,716,000 after acquiring an additional 548,155 shares during the last quarter. Capital International Investors lifted its holdings in shares of Crane NXT by 40.0% during the first quarter. Capital International Investors now owns 653,052 shares of the company's stock worth $40,424,000 after purchasing an additional 186,437 shares during the period. Hsbc Holdings PLC lifted its holdings in Crane NXT by 97.0% in the second quarter. Hsbc Holdings PLC now owns 247,842 shares of the company's stock valued at $15,222,000 after buying an additional 122,056 shares during the period. Congress Asset Management Co. lifted its holdings in Crane NXT by 18.3% in the third quarter. Congress Asset Management Co. now owns 742,813 shares of the company's stock valued at $41,672,000 after buying an additional 114,707 shares during the period. Finally, Kirr Marbach & Co. LLC IN acquired a new position in Crane NXT in the second quarter valued at $3,565,000. 77.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CXT has been the subject of several research analyst reports. 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. DA Davidson reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Robert W. Baird boosted their target price 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. Finally, Baird R W upgraded shares of Crane NXT to a "strong-buy" rating in a research note on Thursday, October 17th.

Crane NXT Trading Up 0.4 %

Shares of CXT stock traded up $0.20 on Friday, hitting $55.49. 273,984 shares of the company's stock traded hands, compared to its average volume of 348,222. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. Crane NXT, Co. has a one year low of $50.31 and a one year high of $64.80. The company's fifty day simple moving average is $56.04 and its 200 day simple moving average is $58.48. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 18.19 and a beta of 1.33.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business had revenue of $403.50 million during the quarter, compared to analysts' expectations of $392.44 million. During the same quarter in the prior year, the company posted $1.09 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. Crane NXT's dividend payout ratio 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.