Brokerages Set Crane NXT, Co. (NYSE:CXT) PT at $73.75

Crane NXT, Co. (NYSE:CXT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $73.75.

A number of research firms recently commented on CXT. DA Davidson lowered their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. UBS Group cut their price objective on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th.

Crane NXT Stock Performance

CXT stock traded down $0.17 on Wednesday, reaching $56.51. The company's stock had a trading volume of 318,224 shares, compared to its average volume of 410,753. Crane NXT has a 52 week low of $41.54 and a 52 week high of $67.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 0.92. The company has a market capitalization of $3.24 billion, a P/E ratio of 19.42 and a beta of 1.29. The firm has a fifty day moving average of $53.15 and a two-hundred day moving average of $54.92.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. As a group, analysts predict that Crane NXT will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

Institutional Investors Weigh In On Crane NXT

Several hedge funds have recently modified their holdings of the stock. Park Square Financial Group LLC acquired a new stake in Crane NXT during the 4th quarter worth about $26,000. UMB Bank n.a. lifted its position in shares of Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after acquiring an additional 327 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Crane NXT by 120.3% in the 1st quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $37,000 after purchasing an additional 391 shares during the period. Quarry LP acquired a new position in Crane NXT in the 4th quarter worth approximately $42,000. Finally, Fifth Third Bancorp grew its position in Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares in the last quarter. 77.49% of the stock is 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.