Crane NXT (NYSE:CXT) Reaches New 52-Week Low - Here's Why

Crane NXT, Co. (NYSE:CXT - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $51.69 and last traded at $51.90, with a volume of 4070 shares. The stock had previously closed at $52.31.

Analysts Set New Price Targets

A number of research firms have weighed in on CXT. Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective for the company. in a research report on Tuesday, February 18th. Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Crane NXT currently has a consensus rating of "Moderate Buy" and an average target price of $83.33.

Crane NXT Stock Up 0.1 %

The company has a market cap of $2.94 billion, a PE ratio of 16.12 and a beta of 1.32. The business has a fifty day simple moving average of $58.21 and a two-hundred day simple moving average of $58.13. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. As a group, equities research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current year.

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Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. This is an increase from Crane NXT's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%. Crane NXT's dividend payout ratio (DPR) is presently 21.32%.

Institutional Trading of Crane NXT

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company's stock valued at $499,337,000 after purchasing an additional 336,765 shares during the period. Vanguard Group Inc. boosted its holdings in Crane NXT by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company's stock valued at $345,303,000 after purchasing an additional 66,800 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Crane NXT by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company's stock valued at $183,750,000 after buying an additional 72,992 shares during the period. State Street Corp increased its holdings in shares of Crane NXT by 1.6% during the 3rd quarter. State Street Corp now owns 1,443,518 shares of the company's stock worth $80,981,000 after buying an additional 22,041 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Crane NXT by 79.3% during the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company's stock valued at $78,658,000 after buying an additional 597,537 shares during the period. 77.49% of the stock is currently 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.