Crane NXT (NYSE:CXT) Sets New 12-Month Low – Time to Sell?

Crane NXT, Co. (NYSE:CXT)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $51.69 and last traded at $51.90, with a volume of 4070 shares. The stock had previously closed at $52.31.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Northland Securities cut Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price on the stock. in a research report on Tuesday, February 18th. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.33.

Crane NXT Stock Down 2.5 %

The firm has a 50 day moving average of $58.21 and a two-hundred day moving average of $58.10. The stock has a market capitalization of $2.94 billion, a PE ratio of 16.09 and a beta of 1.32. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Equities research analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Friday, February 28th. Crane NXT’s payout ratio is currently 21.32%.

Hedge Funds Weigh In On Crane NXT

Several hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp boosted its stake in shares of Crane NXT by 60.6% during the third quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock valued at $2,448,000 after acquiring an additional 16,465 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Crane NXT in the 4th quarter valued at about $527,000. Barclays PLC boosted its stake in shares of Crane NXT by 45.3% during the 3rd quarter. Barclays PLC now owns 37,663 shares of the company’s stock worth $2,113,000 after purchasing an additional 11,734 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Crane NXT by 12.3% during the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock worth $22,224,000 after buying an additional 43,439 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Crane NXT in the third quarter valued at approximately $507,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

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.