Crane NXT (NYSE:CXT) Sets New 12-Month High at $63.89

Crane NXT, Co. (NYSE:CXT) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $63.89 and last traded at $63.51, with a volume of 39512 shares traded. The stock had previously closed at $61.79.

Wall Street Analyst Weigh In

Several research firms have commented on CXT. DA Davidson lifted their price target on Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Northland Securities began coverage on Crane NXT in a research report on Monday, April 8th. They set an “outperform” rating and a $91.00 price target on the stock.

Crane NXT Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.93 and a quick ratio of 1.46. The stock has a market capitalization of $3.61 billion, a PE ratio of 18.90 and a beta of 1.37. The stock has a 50 day moving average of $60.13 and a two-hundred day moving average of $56.48.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The firm had revenue of $356.90 million for the quarter, compared to the consensus estimate of $340.89 million. During the same period in the previous year, the business earned $2.13 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts expect that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.01%. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 28th. Crane NXT’s payout ratio is 19.57%.

Hedge Funds Weigh In On Crane NXT

Institutional investors have recently made changes to their positions in the stock. Xponance Inc. acquired a new position in shares of Crane NXT in the third quarter worth $319,000. Hudson Bay Capital Management LP acquired a new position in shares of Crane NXT in the third quarter worth $3,319,000. Clearbridge Investments LLC acquired a new position in shares of Crane NXT in the third quarter worth $10,781,000. Swiss National Bank acquired a new position in shares of Crane NXT in the third quarter worth $5,890,000. Finally, Signaturefd LLC acquired a new position in Crane NXT in the third quarter valued at $109,000. 77.49% of the stock is owned by institutional investors and hedge funds.

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.