Crane NXT, Co. (NYSE:CXT) Receives $75.80 Average PT from Brokerages

Shares of Crane NXT, Co. (NYSE:CXT) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $75.80.

A number of equities analysts recently weighed in on the company. CJS Securities upgraded Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. DA Davidson restated a “buy” rating and set a $85.00 price target on shares of Crane NXT in a report on Tuesday, September 23rd. Robert W. Baird cut their target price on shares of Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Oppenheimer upped their price target on Crane NXT from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, October 8th.

Crane NXT Stock Down 0.1%

CXT stock opened at $48.43 on Wednesday. The firm has a market cap of $2.78 billion, a PE ratio of 18.07 and a beta of 1.18. Crane NXT has a 12 month low of $41.54 and a 12 month high of $69.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $57.50 and a 200 day simple moving average of $59.02.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, June 1st. The company reported $1.81 earnings per share (EPS) for the quarter. The company had revenue of $871.50 million for the quarter. Crane NXT had a return on equity of 20.24% and a net margin of 9.80%. Equities research analysts forecast that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Crane NXT’s dividend payout ratio (DPR) is 25.37%.

Institutional Trading of Crane NXT

Several hedge funds and other institutional investors have recently modified their holdings of CXT. Deutsche Bank AG grew its stake in Crane NXT by 4.2% in the first quarter. Deutsche Bank AG now owns 6,077 shares of the company’s stock valued at $312,000 after purchasing an additional 246 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Crane NXT by 173.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company’s stock valued at $55,750,000 after buying an additional 687,738 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Crane NXT by 2.5% in the 1st quarter. Synovus Financial Corp now owns 15,345 shares of the company’s stock valued at $789,000 after buying an additional 374 shares in the last quarter. Comerica Bank grew its stake in shares of Crane NXT by 66.1% in the 1st quarter. Comerica Bank now owns 94,697 shares of the company’s stock valued at $4,867,000 after buying an additional 37,678 shares in the last quarter. Finally, Keeley Teton Advisors LLC increased its holdings in Crane NXT by 3.6% in the first quarter. Keeley Teton Advisors LLC now owns 168,419 shares of the company’s stock worth $8,657,000 after buying an additional 5,893 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

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