Crane NXT (NYSE:CXT) Now Covered by Robert W. Baird

Robert W. Baird assumed coverage on shares of Crane NXT (NYSE:CXT) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $77.00 target price on the stock.

CXT has been the topic of several other research reports. DA Davidson reissued a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities cut their price objective on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th.

Crane NXT Trading Up 0.5 %

Shares of Crane NXT stock opened at $58.21 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. Crane NXT has a 52 week low of $48.42 and a 52 week high of $64.80. The stock has a 50 day moving average price of $56.80 and a two-hundred day moving average price of $59.27. The stock has a market capitalization of $3.33 billion, a PE ratio of 18.36 and a beta of 1.32.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.02. The company had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. Crane NXT’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. As a group, equities analysts anticipate that Crane NXT will post 4.28 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT’s payout ratio is 20.19%.

Hedge Funds Weigh In On Crane NXT

Hedge funds and other institutional investors have recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Crane NXT in the 1st quarter worth about $38,000. nVerses Capital LLC purchased a new position in shares of Crane NXT in the 3rd quarter worth about $45,000. Hobbs Group Advisors LLC purchased a new stake in Crane NXT during the 2nd quarter valued at about $52,000. Blue Trust Inc. boosted its holdings in Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after acquiring an additional 205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Crane NXT by 154.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock valued at $100,000 after acquiring an additional 984 shares during the period. 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.