Amundi Buys Shares of 7,908 Crane NXT, Co. (NYSE:CXT)

Amundi bought a new stake in shares of Crane NXT, Co. (NYSE:CXT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,908 shares of the company’s stock, valued at approximately $486,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in Crane NXT by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,325 shares of the company’s stock valued at $1,009,000 after purchasing an additional 415 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Crane NXT during the fourth quarter valued at $2,580,000. Aigen Investment Management LP acquired a new position in shares of Crane NXT during the fourth quarter valued at $304,000. Proficio Capital Partners LLC acquired a new position in shares of Crane NXT during the fourth quarter valued at $675,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Crane NXT by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 460,143 shares of the company’s stock valued at $26,790,000 after acquiring an additional 15,280 shares during the period. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Performance

CXT stock opened at $53.56 on Friday. The company has a market capitalization of $3.07 billion, a P/E ratio of 16.79 and a beta of 1.32. The company has a 50-day simple moving average of $59.47 and a 200 day simple moving average of $58.26. Crane NXT, Co. has a fifty-two week low of $52.05 and a fifty-two week high of $67.01. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Sell-side analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 1.27%. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio is presently 21.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CXT shares. Northland Capmk downgraded shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Northland Securities downgraded shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Crane NXT has an average rating of “Moderate Buy” and an average target price 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.