Synovus Financial Corp Has $941,000 Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Synovus Financial Corp trimmed its stake in shares of Crane NXT, Co. (NYSE:CXT) by 20.1% in the third quarter, HoldingsChannel.com reports. The fund owned 16,781 shares of the company’s stock after selling 4,225 shares during the quarter. Synovus Financial Corp’s holdings in Crane NXT were worth $941,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Crane NXT during the second quarter worth about $748,000. Blue Trust Inc. raised its position in shares of Crane NXT by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after buying an additional 205 shares in the last quarter. JB Capital LLC bought a new stake in shares of Crane NXT during the 2nd quarter worth approximately $230,000. LRI Investments LLC boosted its position in shares of Crane NXT by 1,875.0% during the 2nd quarter. LRI Investments LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 600 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Crane NXT by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 522,205 shares of the company’s stock worth $32,074,000 after acquiring an additional 19,224 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CXT has been the subject of several recent analyst reports. Baird R W upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Robert W. Baird upped their price objective 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 decreased their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, DA Davidson reissued a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a report on Monday, September 30th.

Crane NXT Stock Up 0.8 %

Shares of CXT opened at $60.33 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. Crane NXT, Co. has a 52 week low of $52.89 and a 52 week high of $64.80. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 19.78 and a beta of 1.34. The stock has a fifty day moving average of $57.70 and a 200-day moving average of $58.39.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. During the same period last year, the company earned $1.09 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is currently 20.98%.

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.