Principal Financial Group Inc. Decreases Position in Crane NXT, Co. (NYSE:CXT)

Principal Financial Group Inc. cut its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,711 shares of the company's stock after selling 26,204 shares during the period. Principal Financial Group Inc. owned approximately 0.60% of Crane NXT worth $19,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Crane NXT by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 522,205 shares of the company's stock valued at $32,074,000 after acquiring an additional 19,224 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Crane NXT by 41.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,451 shares of the company's stock worth $642,000 after purchasing an additional 3,086 shares in the last quarter. BOS Asset Management LLC lifted its stake in Crane NXT by 149.3% during the second quarter. BOS Asset Management LLC now owns 10,697 shares of the company's stock worth $657,000 after purchasing an additional 6,407 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Crane NXT by 25.1% during the second quarter. D.A. Davidson & CO. now owns 129,898 shares of the company's stock worth $7,978,000 after buying an additional 26,066 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Crane NXT by 6.5% in the second quarter. Natixis Advisors LLC now owns 38,725 shares of the company's stock valued at $2,378,000 after buying an additional 2,355 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Stock Down 0.3 %

NYSE CXT traded down $0.19 during trading hours on Friday, hitting $58.01. 249,170 shares of the company were exchanged, compared to its average volume of 350,471. 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 market cap of $3.32 billion, a price-to-earnings ratio of 19.02 and a beta of 1.34. The company has a 50 day moving average of $58.08 and a two-hundred day moving average of $58.19. Crane NXT, Co. has a 52-week low of $52.89 and a 52-week high of $64.80.

Crane NXT (NYSE:CXT - Get Free Report) last issued its 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 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 company earned $1.09 earnings per share. The firm's revenue was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.10%. Crane NXT's payout ratio is currently 20.98%.

Analysts Set New Price Targets

CXT has been the topic of several research reports. Baird R W raised Crane NXT to a "strong-buy" rating in a research note on Thursday, October 17th. DA Davidson reissued a "buy" rating and set a $100.00 price target on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities dropped their price objective on shares of Crane NXT from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Finally, Robert W. Baird upped their target price on shares of Crane NXT from $77.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th.

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.