Crane NXT (NYSE:CXT) Hits New 1-Year High – What’s Next?

Crane NXT, Co. (NYSE:CXT) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $65.53 and last traded at $65.57, with a volume of 28665 shares trading hands. The stock had previously closed at $63.72.

Analyst Ratings Changes

CXT has been the topic of several recent research reports. Northland Securities reduced their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Robert W. Baird upped their target price on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, DA Davidson reissued a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th.

Crane NXT Price Performance

The firm has a fifty day moving average price of $60.32 and a two-hundred day moving average price of $58.26. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.74 billion, a P/E ratio of 21.43 and a beta of 1.35.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business had revenue of $403.50 million during the quarter, compared to analyst estimates of $392.44 million. During the same period last year, the business earned $1.09 EPS. Crane NXT’s revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 0.98%. Crane NXT’s dividend payout ratio is 20.98%.

Hedge Funds Weigh In On Crane NXT

A number of hedge funds have recently bought and sold shares of CXT. American Century Companies Inc. raised its holdings in shares of Crane NXT by 7.2% during the second quarter. American Century Companies Inc. now owns 22,402 shares of the company’s stock valued at $1,376,000 after purchasing an additional 1,499 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Crane NXT by 5.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 54,531 shares of the company’s stock worth $3,349,000 after purchasing an additional 2,722 shares during the period. Dimensional Fund Advisors LP raised its stake in Crane NXT by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock valued at $66,626,000 after buying an additional 33,460 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Crane NXT by 10.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,947 shares of the company’s stock valued at $304,000 after buying an additional 462 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Crane NXT by 16.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after buying an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

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.