Crane NXT (NYSE:CXT) Given New $78.00 Price Target at Robert W. Baird

Crane NXT (NYSE:CXT) had its price objective hoisted by Robert W. Baird from $77.00 to $78.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also commented on CXT. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. DA Davidson reissued a “buy” rating and set a $100.00 target price on shares of Crane NXT in a research note on Monday, September 30th. Finally, Northland Securities decreased their price target on 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

CXT traded down $0.24 on Friday, reaching $56.68. 406,882 shares of the company’s stock were exchanged, compared to its average volume of 353,487. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. The stock’s fifty day moving average price is $56.13 and its 200-day moving average price is $58.72. The stock has a market cap of $3.24 billion, a PE ratio of 18.58 and a beta of 1.33. Crane NXT has a twelve month low of $49.66 and a twelve month high of $64.80.

Crane NXT (NYSE:CXT) last issued 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. The business had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a return on equity of 24.05% and a net margin of 12.18%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the company earned $1.09 EPS. Sell-side analysts expect that Crane NXT will post 4.27 EPS for the current year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, November 29th. Crane NXT’s payout ratio is 20.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. LRI Investments LLC purchased a new position in Crane NXT in the first quarter valued at $38,000. nVerses Capital LLC acquired a new stake in shares of Crane NXT in the 3rd quarter valued at about $45,000. Hobbs Group Advisors LLC purchased a new position in Crane NXT during the 2nd quarter worth approximately $52,000. Blue Trust Inc. increased its position in Crane NXT by 27.8% during the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after buying an additional 205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake 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 buying an additional 265 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

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.