Crane NXT (NYSE:CXT) Reaches New 52-Week High at $63.89

Crane NXT, Co. (NYSE:CXT - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $63.89 and last traded at $63.51, with a volume of 39512 shares traded. The stock had previously closed at $61.79.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CXT shares. Northland Securities began coverage on Crane NXT in a research note on Monday, April 8th. They set an "outperform" rating and a $91.00 target price for the company. DA Davidson increased their price objective on shares of Crane NXT from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, March 18th.

Crane NXT Stock Performance

The stock has a fifty day moving average of $60.22 and a 200-day moving average of $56.54. The firm has a market capitalization of $3.61 billion, a P/E ratio of 19.34 and a beta of 1.37. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.07. The company had revenue of $356.90 million during the quarter, compared to analysts' expectations of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $2.13 EPS. On average, research analysts anticipate that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from Crane NXT's previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.01%. Crane NXT's payout ratio is 19.57%.

Institutional Trading of Crane NXT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Xponance Inc. acquired a new stake in Crane NXT in the third quarter valued at $319,000. Hudson Bay Capital Management LP bought a new position in Crane NXT during the third quarter worth about $3,319,000. Clearbridge Investments LLC acquired a new position in Crane NXT during the third quarter worth approximately $10,781,000. Swiss National Bank bought a new stake in Crane NXT in the third quarter valued at approximately $5,890,000. Finally, Signaturefd LLC acquired a new stake in shares of Crane NXT in the third quarter valued at approximately $109,000. 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.