Crane NXT, Co. (NYSE:CXT) Receives Consensus Recommendation of “Hold” from Analysts

Crane NXT, Co. (NYSE:CXT) has been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $75.00.

Several research firms recently weighed in on CXT. DA Davidson restated a “buy” rating and set a $85.00 price target on shares of Crane NXT in a report on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, October 8th. Finally, Oppenheimer raised their target price on shares of Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th.

Crane NXT Stock Up 1.4%

Shares of NYSE CXT opened at $64.14 on Tuesday. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 24.48 and a beta of 1.36. Crane NXT has a 12-month low of $41.54 and a 12-month high of $69.00. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $63.53 and its 200-day moving average price is $57.97.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, June 1st. The company reported $1.81 earnings per share for the quarter. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The company had revenue of $871.50 million for the quarter. On average, equities research analysts anticipate that Crane NXT will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.1%. Crane NXT’s dividend payout ratio (DPR) is presently 25.95%.

Institutional Investors Weigh In On Crane NXT

Hedge funds and other institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. lifted its stake in shares of Crane NXT by 2,449.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock worth $95,446,000 after acquiring an additional 1,701,361 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Crane NXT by 173.3% in the first quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company’s stock worth $55,750,000 after purchasing an additional 687,738 shares during the period. Norges Bank purchased a new stake in Crane NXT in the second quarter worth $32,163,000. Wellington Management Group LLP lifted its position in shares of Crane NXT by 16.2% during the first quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company’s stock worth $188,584,000 after purchasing an additional 512,813 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of Crane NXT by 40.4% during the second quarter. Congress Asset Management Co. now owns 1,118,445 shares of the company’s stock valued at $60,284,000 after purchasing an additional 322,033 shares during the period. 77.49% of the stock is currently owned by hedge funds and other 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.