Crane NXT, Co. (NYSE:CXT) Increases Dividend to $0.17 Per Share

Crane NXT, Co. (NYSE:CXT) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.17 per share on Wednesday, March 12th. This represents a $0.68 annualized dividend and a yield of 1.16%. This is a boost from Crane NXT’s previous quarterly dividend of $0.16.

Crane NXT has decreased its dividend by an average of 28.1% annually over the last three years. Crane NXT has a payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Crane NXT to earn $4.39 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 14.6%.

Crane NXT Stock Down 1.7 %

NYSE CXT opened at $58.59 on Thursday. Crane NXT has a 52 week low of $52.89 and a 52 week high of $67.00. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.35 billion, a P/E ratio of 19.21 and a beta of 1.36. The stock’s 50-day moving average price is $61.21 and its 200-day moving average price is $58.65.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. On average, equities research analysts predict that Crane NXT will post 4.26 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Robert W. Baird upped their price objective on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

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.