Crane NXT (NYSE:CXT) Hits New 12-Month High – Still a Buy?

Crane NXT, Co. (NYSE:CXT) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $65.14 and last traded at $65.14, with a volume of 8577 shares trading hands. The stock had previously closed at $63.57.

Analyst Upgrades and Downgrades

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

Crane NXT Trading Down 1.3 %

The company has a 50 day simple moving average of $59.51 and a 200 day simple moving average of $58.06. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.63 billion, a PE ratio of 20.81 and a beta of 1.35.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS 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 business had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. During the same quarter in the prior year, the business earned $1.09 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.01%. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

Hedge Funds Weigh In On Crane NXT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Crane NXT in the 3rd quarter valued at approximately $32,000. nVerses Capital LLC purchased a new position in Crane NXT in the third quarter worth $45,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Crane NXT by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares during the period. GAMMA Investing LLC boosted its position in shares of Crane NXT by 17.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock worth $144,000 after purchasing an additional 380 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Crane NXT during the 3rd quarter worth $181,000. Institutional investors and hedge funds 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.