Royal Bank of Canada Trims Stock Position in Crane NXT, Co. $CXT

Royal Bank of Canada cut its stake in Crane NXT, Co. (NYSE:CXT) by 44.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,743 shares of the company’s stock after selling 58,344 shares during the quarter. Royal Bank of Canada’s holdings in Crane NXT were worth $2,951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in shares of Crane NXT by 2,449.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock valued at $95,446,000 after purchasing an additional 1,701,361 shares in the last quarter. Channing Capital Management LLC increased its position in shares of Crane NXT by 632.9% during the fourth quarter. Channing Capital Management LLC now owns 1,571,769 shares of the company’s stock valued at $73,983,000 after buying an additional 1,357,312 shares during the period. Norges Bank bought a new position in Crane NXT in the fourth quarter worth about $30,057,000. New York State Common Retirement Fund raised its stake in Crane NXT by 409.6% in the fourth quarter. New York State Common Retirement Fund now owns 392,187 shares of the company’s stock worth $18,460,000 after buying an additional 315,228 shares in the last quarter. Finally, KLCM Advisors Inc. purchased a new stake in Crane NXT in the first quarter worth about $10,874,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CXT shares. Robert W. Baird set a $68.00 price objective on Crane NXT in a research report on Friday, August 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Crane NXT in a research report on Friday, July 31st. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Northland Securities set a $65.00 target price on Crane NXT in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Crane NXT currently has an average rating of “Moderate Buy” and an average target price of $68.20.

Crane NXT Stock Up 0.6%

NYSE:CXT opened at $51.76 on Friday. The firm’s 50-day moving average price is $49.40 and its 200-day moving average price is $46.55. The company has a market capitalization of $2.98 billion, a PE ratio of 21.39 and a beta of 1.09. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.42 and a quick ratio of 1.07. Crane NXT, Co. has a 1-year low of $35.71 and a 1-year high of $69.00.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. Crane NXT had a net margin of 7.78% and a return on equity of 19.87%. The company had revenue of $493.20 million during the quarter, compared to analyst estimates of $475.62 million. During the same period last year, the business earned $0.97 EPS. Crane NXT’s quarterly revenue was up 22.1% compared to the same quarter last year. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. On average, equities analysts predict that Crane NXT, Co. will post 4.27 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 31st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, August 31st. Crane NXT’s dividend payout ratio is 29.75%.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.