Crane NXT (NYSE:CXT) Hits New 1-Year Low – Time to Sell?

Crane NXT, Co. (NYSE:CXT) hit a new 52-week low on Friday . The stock traded as low as $52.04 and last traded at $52.10, with a volume of 117626 shares traded. The stock had previously closed at $53.51.

Wall Street Analyst Weigh In

CXT has been the subject of several recent analyst reports. Northland Securities cut Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The stock’s 50-day moving average is $59.29 and its 200 day moving average is $58.24. The stock has a market capitalization of $3.03 billion, a PE ratio of 16.59 and a beta of 1.32.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. As a group, equities analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio (DPR) is 21.32%.

Institutional Trading of Crane NXT

Several hedge funds have recently made changes to their positions in the company. Stifel Financial Corp lifted its stake in shares of Crane NXT by 60.6% in the third quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock valued at $2,448,000 after purchasing an additional 16,465 shares during the period. Park Avenue Securities LLC purchased a new position in Crane NXT during the 4th quarter valued at about $527,000. Barclays PLC increased its holdings in Crane NXT by 45.3% during the 3rd quarter. Barclays PLC now owns 37,663 shares of the company’s stock valued at $2,113,000 after acquiring an additional 11,734 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Crane NXT by 12.3% during the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock worth $22,224,000 after buying an additional 43,439 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of Crane NXT during the third quarter worth about $507,000. Institutional investors and hedge funds 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.