Crane NXT, Co. (NYSE:CXT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Crane NXT, Co. (NYSE:CXT) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $75.80.

A number of research analysts have weighed in on CXT shares. Oppenheimer upped their price objective on shares of Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. CJS Securities raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research raised Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Robert W. Baird decreased their price objective on Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Monday, December 15th.

Institutional Investors Weigh In On Crane NXT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its holdings in shares of Crane NXT by 2.0% during the 3rd quarter. US Bancorp DE now owns 8,445 shares of the company’s stock worth $566,000 after acquiring an additional 169 shares during the period. Whittier Trust Co. grew its position in Crane NXT by 8.5% in the third quarter. Whittier Trust Co. now owns 2,170 shares of the company’s stock worth $144,000 after acquiring an additional 170 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Crane NXT by 0.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 50,304 shares of the company’s stock worth $2,711,000 after purchasing an additional 190 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Crane NXT by 6.3% during the third quarter. CIBC Private Wealth Group LLC now owns 3,472 shares of the company’s stock valued at $233,000 after acquiring an additional 206 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Crane NXT by 141.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after acquiring an additional 228 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Stock Performance

NYSE CXT opened at $51.66 on Thursday. The stock has a 50-day simple moving average of $50.94 and a two-hundred day simple moving average of $57.74. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.26. The firm has a market capitalization of $2.97 billion, a P/E ratio of 19.27 and a beta of 1.18. Crane NXT has a fifty-two week low of $41.54 and a fifty-two week high of $69.00.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. The business had revenue of $476.90 million for the quarter, compared to analyst estimates of $450.53 million. Crane NXT had a return on equity of 20.24% and a net margin of 9.80%.The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. On average, equities analysts forecast that Crane NXT will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th will be paid a $0.18 dividend. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. Crane NXT’s dividend payout ratio is 25.37%.

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