Crane NXT (NYSE:CXT) Cut to Market Perform at Northland Securities

Northland Securities downgraded shares of Crane NXT (NYSE:CXT) from an outperform rating to a market perform rating in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have $72.00 price objective on the stock.

Separately, Robert W. Baird boosted their target price on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $59.24 on Tuesday. The stock has a market capitalization of $3.39 billion, a PE ratio of 18.57 and a beta of 1.36. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $60.98 and a 200-day moving average of $58.58. Crane NXT has a 12 month low of $52.89 and a 12 month high of $67.00.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. On average, equities research analysts predict that Crane NXT will post 4.18 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be paid a $0.17 dividend. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.15%. Crane NXT’s dividend payout ratio is presently 21.32%.

Hedge Funds Weigh In On Crane NXT

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after purchasing an additional 276 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Crane NXT in the third quarter valued at approximately $32,000. Quarry LP purchased a new stake in Crane NXT in the fourth quarter valued at approximately $42,000. Covestor Ltd grew its position in Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company’s stock valued at $43,000 after acquiring an additional 206 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Crane NXT during the third quarter valued at approximately $45,000. 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.