Crane NXT (NYSE:CXT) Sets New 52-Week Low – Here’s What Happened

Crane NXT, Co. (NYSE:CXT) reached a new 52-week low on Monday . The company traded as low as $39.65 and last traded at $39.7020, with a volume of 225477 shares changing hands. The stock had previously closed at $41.15.

Analysts Set New Price Targets

CXT has been the topic of several recent research reports. CJS Securities raised Crane NXT to a “strong-buy” rating in a report on Thursday, December 11th. UBS Group set a $58.00 price objective on Crane NXT in a research report on Friday, February 13th. Northland Securities set a $62.00 target price on Crane NXT in a report on Wednesday, February 18th. Zacks Research upgraded shares of Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.60.

Crane NXT Stock Up 3.0%

The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 16.66 and a beta of 1.18. The firm has a 50 day moving average of $48.23 and a 200 day moving average of $54.45. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 0.80.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. The firm had revenue of $476.90 million for the quarter, compared to analyst estimates of $450.53 million. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. As a group, sell-side analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Saturday, February 28th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, February 27th. This is a boost from Crane NXT’s previous quarterly dividend of $0.17. Crane NXT’s dividend payout ratio is presently 28.69%.

Institutional Investors Weigh In On Crane NXT

Large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its holdings in shares of Crane NXT by 141.6% during the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Quent Capital LLC bought a new stake in Crane NXT in the 3rd quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new stake in Crane NXT in the 3rd quarter valued at about $31,000. Aster Capital Management DIFC Ltd acquired a new position in Crane NXT during the 3rd quarter worth approximately $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new position in Crane NXT during the 3rd quarter worth approximately $34,000. 77.49% of the stock is currently 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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.