Crane NXT (NYSE:CXT) Price Target Raised to $78.00

Crane NXT (NYSE:CXT) had its price objective increased by Robert W. Baird from $77.00 to $78.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. DA Davidson reissued a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities dropped their price objective on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th.

Crane NXT Price Performance

Crane NXT stock traded down $0.24 during midday trading on Friday, reaching $56.68. The company’s stock had a trading volume of 406,882 shares, compared to its average volume of 353,487. The firm has a market capitalization of $3.24 billion, a PE ratio of 18.58 and a beta of 1.33. Crane NXT has a fifty-two week low of $49.66 and a fifty-two week high of $64.80. The stock’s 50 day simple moving average is $56.13 and its 200 day simple moving average is $58.72. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 24.05% and a net margin of 12.18%. The business had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. During the same quarter in the previous year, the company posted $1.09 EPS. The business’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that Crane NXT will post 4.27 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

Institutional Trading of Crane NXT

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Crane NXT by 9.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after acquiring an additional 195 shares in the last quarter. Blue Trust Inc. grew its position in shares of Crane NXT by 27.8% during 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 during the last quarter. Atria Investments Inc raised its stake in Crane NXT by 6.0% during the third quarter. Atria Investments Inc now owns 3,700 shares of the company’s stock worth $208,000 after acquiring an additional 208 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Crane NXT by 1.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 12,923 shares of the company’s stock worth $725,000 after acquiring an additional 245 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Crane NXT by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

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.