Crane NXT (NYSE:CXT) Cut to Market Perform at Northland Securities

Northland Securities lowered shares of Crane NXT (NYSE:CXT) from an outperform rating to a market perform rating in a report released on Tuesday morning, MarketBeat reports. The firm currently has $72.00 price objective on the stock.

Separately, Robert W. Baird boosted their target price on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Stock Up 0.2 %

Shares of NYSE CXT opened at $59.24 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $60.98 and a 200 day moving average price of $58.58. The company has a market cap of $3.39 billion, a P/E ratio of 18.57 and a beta of 1.36. Crane NXT has a 12-month low of $52.89 and a 12-month high of $67.00.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 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%. Research analysts anticipate that Crane NXT will post 4.18 EPS for the current fiscal year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio is currently 21.32%.

Institutional Trading of Crane NXT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CXT. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT during the third quarter valued at approximately $32,000. Fifth Third Bancorp grew its position in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after purchasing an additional 276 shares in the last quarter. Quarry LP bought a new position in Crane NXT in the fourth quarter valued at $42,000. Covestor Ltd grew its position in shares of Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company’s stock valued at $43,000 after acquiring an additional 206 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of Crane NXT in the 3rd quarter valued at about $45,000. Institutional investors 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.