Crane NXT, Co. (NYSE:CXT) Declares Quarterly Dividend of $0.17

Crane NXT, Co. (NYSE:CXT) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.17 per share on Wednesday, March 12th. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16.

Crane NXT has decreased its dividend payment by an average of 28.1% annually over the last three years. Crane NXT has a payout ratio of 12.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Crane NXT to earn $4.39 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 14.6%.

Crane NXT Price Performance

Crane NXT stock traded down $1.03 during mid-day trading on Wednesday, reaching $58.59. The company had a trading volume of 594,523 shares, compared to its average volume of 404,022. The business has a fifty day simple moving average of $61.29 and a 200 day simple moving average of $58.65. The company has a market cap of $3.35 billion, a P/E ratio of 19.21 and a beta of 1.36. Crane NXT has a fifty-two week low of $52.89 and a fifty-two week high of $67.00. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. On average, equities research analysts predict that Crane NXT will post 4.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CXT. Robert W. Baird boosted their target price on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Baird R W raised Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th.

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.