Crane NXT (NYSE:CXT) Hits New 1-Year High at $63.89

Crane NXT, Co. (NYSE:CXT)’s share price hit a new 52-week high on Tuesday . The company traded as high as $63.89 and last traded at $63.51, with a volume of 39512 shares changing hands. The stock had previously closed at $61.79.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CXT shares. Northland Securities started coverage on Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 target price on the stock. DA Davidson lifted their target price on Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

Crane NXT Price Performance

The company has a 50-day moving average price of $60.27 and a two-hundred day moving average price of $56.59. 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 company has a market cap of $3.59 billion, a PE ratio of 19.20 and a beta of 1.37.

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

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were given a $0.16 dividend. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.02%. Crane NXT’s dividend payout ratio is presently 19.57%.

Institutional Investors Weigh In On Crane NXT

Several institutional investors and hedge funds have recently modified their holdings of CXT. CWM LLC purchased a new position in Crane NXT in the third quarter valued at about $28,000. AE Wealth Management LLC purchased a new position in Crane NXT in the third quarter valued at about $1,731,000. Ronald Blue Trust Inc. purchased a new position in Crane NXT in the third quarter valued at about $30,000. SG Americas Securities LLC purchased a new position in Crane NXT in the third quarter valued at about $1,554,000. Finally, State of Alaska Department of Revenue purchased a new position in Crane NXT in the third quarter valued at about $4,595,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

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.