Crane NXT (NYSE:CXT) Trading Down 3.6% - Here's Why

Crane NXT, Co. (NYSE:CXT - Get Free Report) shares fell 3.6% on Friday . The stock traded as low as $63.23 and last traded at $62.99. 38,041 shares were traded during trading, a decline of 89% from the average session volume of 343,203 shares. The stock had previously closed at $65.32.

Analyst Ratings Changes

Several brokerages have recently weighed in on CXT. DA Davidson reiterated a "buy" rating and set a $100.00 target price on shares of Crane NXT in a research note on Monday, September 30th. Northland Securities reduced their price objective 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. Baird R W upgraded shares of Crane NXT to a "strong-buy" rating in a research report on Thursday, October 17th. Finally, Robert W. Baird raised their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, November 8th.

Crane NXT Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.64 billion, a PE ratio of 20.90 and a beta of 1.35. The stock's fifty day simple moving average is $60.69 and its 200-day simple moving average is $58.36.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The company had revenue of $403.50 million during the quarter, compared to analysts' expectations of $392.44 million. During the same period last year, the company posted $1.09 earnings per share. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. Crane NXT's dividend payout ratio (DPR) is 20.98%.

Institutional Trading of Crane NXT

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Crane NXT in the 3rd quarter worth approximately $32,000. Fifth Third Bancorp grew its stake in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after acquiring an additional 276 shares during the period. nVerses Capital LLC purchased a new stake in Crane NXT in the 3rd quarter worth approximately $45,000. Benjamin F. Edwards & Company Inc. grew its stake in Crane NXT by 16.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company's stock worth $116,000 after acquiring an additional 265 shares during the period. Finally, GAMMA Investing LLC grew its stake in Crane NXT by 17.4% in the 3rd 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 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.