Crane NXT (NYSE:CXT) Shares Down 3.6% – Here’s What Happened

Shares of Crane NXT, Co. (NYSE:CXT) were down 3.6% during mid-day trading on Friday . The company traded as low as $63.23 and last traded at $62.99. Approximately 38,041 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 343,203 shares. The stock had previously closed at $65.32.

Analysts Set New Price Targets

CXT has been the topic of several analyst reports. Northland Securities dropped their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Robert W. Baird raised their price target on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th.

Crane NXT Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. The company has a market capitalization of $3.62 billion, a PE ratio of 20.77 and a beta of 1.35. The company has a 50 day moving average price of $60.52 and a 200 day moving average price of $58.31.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. Equities analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, November 29th. Crane NXT’s dividend payout ratio is currently 20.98%.

Hedge Funds Weigh In On Crane NXT

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT in the 3rd quarter worth approximately $32,000. Fifth Third Bancorp increased its position in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after buying an additional 276 shares during the period. nVerses Capital LLC bought a new stake in Crane NXT in the third quarter valued at $45,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Crane NXT by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Crane NXT by 17.4% during the third quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock worth $144,000 after acquiring an additional 380 shares during the last quarter. 77.49% of the stock is currently owned by 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.