M&T Bank Corp Cuts Stock Holdings in Crane NXT, Co. (NYSE:CXT)

M&T Bank Corp decreased its position in Crane NXT, Co. (NYSE:CXT) by 28.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,396 shares of the company’s stock after selling 11,902 shares during the quarter. M&T Bank Corp owned approximately 0.05% of Crane NXT worth $1,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CXT. Wilmington Savings Fund Society FSB purchased a new position in Crane NXT during the third quarter worth about $32,000. Fifth Third Bancorp lifted its position in shares of Crane NXT by 98.6% during the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after buying an additional 276 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Crane NXT by 985.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock worth $95,000 after buying an additional 1,488 shares during the last quarter. Quest Partners LLC bought a new position in shares of Crane NXT in the third quarter valued at approximately $181,000. Finally, Oak Thistle LLC purchased a new stake in shares of Crane NXT during the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CXT. Northland Securities cut Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research report on Tuesday, February 18th. Northland Capmk downgraded shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Price Performance

Shares of NYSE CXT opened at $54.17 on Monday. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 16.98 and a beta of 1.32. The stock has a fifty day simple moving average of $60.47 and a two-hundred day simple moving average of $58.53. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 1-year low of $52.89 and a 1-year high of $67.00.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results 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 return on equity of 24.08% and a net margin of 12.38%. Analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s payout ratio is 21.32%.

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.