Crane NXT (NYSE:CXT) Coverage Initiated by Analysts at Robert W. Baird

Robert W. Baird started coverage on shares of Crane NXT (NYSE:CXT) in a research note released on Thursday morning, MarketBeat reports. The firm issued an outperform rating and a $77.00 target price on the stock.

CXT has been the subject of a number of other reports. DA Davidson restated a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Northland Securities cut their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 7th.

Crane NXT Stock Up 0.5 %

Shares of Crane NXT stock opened at $58.21 on Thursday. Crane NXT has a twelve month low of $48.42 and a twelve month high of $64.80. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $56.80 and its 200 day moving average is $59.26. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 18.36 and a beta of 1.32.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.02. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The firm had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $367.08 million. During the same period in the prior year, the firm earned $1.12 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Crane NXT will post 4.28 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, August 30th. Crane NXT’s payout ratio is 20.19%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in Crane NXT during the fourth quarter valued at approximately $66,550,000. Pacer Advisors Inc. raised its position in shares of Crane NXT by 93.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after purchasing an additional 548,155 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Crane NXT by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock valued at $66,626,000 after purchasing an additional 33,460 shares during the period. Capital International Investors lifted its stake in shares of Crane NXT by 40.0% during the 1st quarter. Capital International Investors now owns 653,052 shares of the company’s stock valued at $40,424,000 after buying an additional 186,437 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in Crane NXT by 3,331.1% in the 1st quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock worth $36,855,000 after buying an additional 578,043 shares during the period. 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.