Crane NXT (NYSE:CXT) Sets New 1-Year High – Time to Buy?

Crane NXT, Co. (NYSE:CXT) reached a new 52-week high during trading on Tuesday . The stock traded as high as $65.53 and last traded at $65.57, with a volume of 28665 shares traded. The stock had previously closed at $63.72.

Analysts Set New Price Targets

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

Crane NXT Price Performance

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 fifty day simple moving average of $59.93 and a two-hundred day simple moving average of $58.15. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 21.79 and a beta of 1.35.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The firm had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. During the same quarter last year, the business earned $1.09 earnings per share. Crane NXT’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 0.96%. Crane NXT’s dividend payout ratio is currently 20.98%.

Institutional Trading of Crane NXT

Hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in Crane NXT during the 3rd quarter worth $32,000. Fifth Third Bancorp grew its position in shares of 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 acquiring an additional 276 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Crane NXT in the 3rd quarter worth about $45,000. Benjamin F. Edwards & Company Inc. lifted its position in Crane NXT by 16.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after purchasing an additional 265 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Crane NXT by 17.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock valued at $144,000 after purchasing an additional 380 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

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.