Truist Financial Corp Acquires 19,714 Shares of Crane NXT, Co. (NYSE:CXT)

Truist Financial Corp lifted its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 63.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,970 shares of the company's stock after acquiring an additional 19,714 shares during the quarter. Truist Financial Corp owned 0.09% of Crane NXT worth $2,967,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT during the 3rd quarter worth $32,000. Fifth Third Bancorp boosted its position in shares of Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after buying an additional 276 shares during the period. Quest Partners LLC acquired a new stake in shares of Crane NXT in the third quarter worth $181,000. Oak Thistle LLC acquired a new stake in shares of Crane NXT in the fourth quarter worth $203,000. Finally, Atria Investments Inc boosted its position in shares of Crane NXT by 6.0% in the third quarter. Atria Investments Inc now owns 3,700 shares of the company's stock worth $208,000 after buying an additional 208 shares during the period. 77.49% of the stock is owned by institutional investors.

Crane NXT Stock Down 0.5 %

CXT traded down $0.26 during trading on Friday, reaching $55.73. 407,445 shares of the stock traded hands, compared to its average volume of 445,624. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 17.47 and a beta of 1.36. Crane NXT, Co. has a fifty-two week low of $52.89 and a fifty-two week high of $67.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The stock's 50-day simple moving average is $60.84 and its two-hundred day simple moving average is $58.63.

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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 (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. As a group, equities research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.17 per share. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, February 28th. Crane NXT's dividend payout ratio (DPR) is 21.32%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CXT. Robert W. Baird raised their target price on Crane NXT from $77.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price for the company. in a research report on Tuesday, February 18th. Finally, Northland Capmk cut Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.33.

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.