Crane NXT (NYSE:CXT) Shares Down 3.6% – What’s Next?

Crane NXT, Co. (NYSE:CXT)’s stock price was down 3.6% during trading on Friday . The stock traded as low as $63.23 and last traded at $62.99. Approximately 38,041 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 343,203 shares. The stock had previously closed at $65.32.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research report on Monday, September 30th. Baird R W upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities lowered their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Robert W. Baird lifted their target price on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

Crane NXT Stock Down 2.4 %

The company has a market cap of $3.64 billion, a price-to-earnings ratio of 20.90 and a beta of 1.35. The business has a 50-day simple moving average of $60.69 and a two-hundred day simple moving average of $58.38. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm had revenue of $403.50 million during the quarter, compared to analyst estimates of $392.44 million. During the same period in the previous year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were issued a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.00%. Crane NXT’s dividend payout ratio (DPR) is presently 20.98%.

Institutional Investors Weigh In On Crane NXT

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Crane NXT by 1.6% in the third quarter. State Street Corp now owns 1,443,518 shares of the company’s stock worth $80,981,000 after purchasing an additional 22,041 shares during the period. Victory Capital Management Inc. increased its position in Crane NXT by 2.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock worth $68,372,000 after buying an additional 33,664 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Crane NXT by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock worth $66,626,000 after buying an additional 33,460 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Crane NXT by 6.4% in the third quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company’s stock valued at $56,157,000 after acquiring an additional 60,468 shares during the period. Finally, Congress Asset Management Co. grew its stake in shares of Crane NXT by 18.3% in the third quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock worth $41,672,000 after acquiring an additional 114,707 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.

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.