Crane NXT (NYSE:CXT) Lifted to Strong-Buy at Baird R W

Baird R W upgraded shares of Crane NXT (NYSE:CXT) to a strong-buy rating in a research report sent to investors on Thursday, Zacks.com reports.

Several other research firms also recently commented on CXT. Robert W. Baird assumed coverage on Crane NXT in a research report on Thursday. They issued an “outperform” rating and a $77.00 target price on the stock. DA Davidson reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th. Finally, Northland Securities dropped their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a 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 current ratio of 1.20 and a quick ratio of 0.87. The business has a fifty day simple moving average of $56.80 and a two-hundred day simple moving average of $59.27. Crane NXT has a 1 year low of $48.42 and a 1 year high of $64.80. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 18.36 and a beta of 1.32.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $367.08 million. During the same quarter last year, the company posted $1.12 EPS. Crane NXT’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that Crane NXT will post 4.28 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, August 30th. Crane NXT’s dividend payout ratio is currently 20.19%.

Hedge Funds Weigh In On Crane NXT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXT. Kirr Marbach & Co. LLC IN increased its position in shares of Crane NXT by 64.1% in the third quarter. Kirr Marbach & Co. LLC IN now owns 95,281 shares of the company’s stock worth $5,345,000 after purchasing an additional 37,233 shares during the period. nVerses Capital LLC acquired a new stake in Crane NXT during the third quarter worth about $45,000. BOS Asset Management LLC increased its holdings in Crane NXT by 35.5% in the 3rd quarter. BOS Asset Management LLC now owns 14,498 shares of the company’s stock valued at $813,000 after buying an additional 3,801 shares during the period. NBC Securities Inc. raised its position in shares of Crane NXT by 25.8% in the 3rd quarter. NBC Securities Inc. now owns 5,466 shares of the company’s stock valued at $306,000 after buying an additional 1,122 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Crane NXT during the 3rd quarter worth approximately $2,335,000. 77.49% of the stock is owned by institutional investors and hedge funds.

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.