Crane NXT, Co. (NYSE:CXT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Crane NXT, Co. (NYSE:CXT) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $73.75.

CXT has been the topic of a number of recent research reports. Northland Capmk lowered shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target on the stock. in a research report on Tuesday, February 18th. DA Davidson lowered their price target on shares of Crane NXT from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, UBS Group lowered their price target on shares of Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th.

Hedge Funds Weigh In On Crane NXT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in shares of Crane NXT by 173.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company’s stock valued at $55,750,000 after purchasing an additional 687,738 shares in the last quarter. Capital International Investors boosted its stake in shares of Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock valued at $78,658,000 after purchasing an additional 597,537 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Crane NXT by 16.2% in the 1st quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company’s stock valued at $188,584,000 after purchasing an additional 512,813 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Crane NXT by 95.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company’s stock valued at $59,470,000 after purchasing an additional 499,290 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Crane NXT in the 4th quarter valued at approximately $26,754,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Price Performance

NYSE:CXT opened at $54.42 on Friday. Crane NXT has a one year low of $41.54 and a one year high of $67.01. The company has a market cap of $3.12 billion, a P/E ratio of 17.06 and a beta of 1.30. The firm’s fifty day moving average price is $50.30 and its two-hundred day moving average price is $55.55. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The business had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. During the same period last year, the firm earned $0.85 earnings per share. Crane NXT’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Crane NXT will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT’s payout ratio is presently 23.37%.

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.