Robert W. Baird Issues Positive Forecast for Crane NXT (NYSE:CXT) Stock Price

Crane NXT (NYSE:CXT - Free Report) had its target price increased by Robert W. Baird from $77.00 to $78.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. DA Davidson reiterated a "buy" rating and issued a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Northland Securities reduced their price target on Crane NXT from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Finally, Baird R W upgraded Crane NXT to a "strong-buy" rating in a research note on Thursday, October 17th.

Crane NXT Stock Down 0.4 %

Shares of NYSE CXT traded down $0.24 during mid-day trading on Friday, hitting $56.68. The company had a trading volume of 406,882 shares, compared to its average volume of 349,353. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $56.17 and a two-hundred day simple moving average of $58.75. The company has a market capitalization of $3.24 billion, a PE ratio of 18.13 and a beta of 1.33. Crane NXT has a one year low of $49.66 and a one year high of $64.80.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.03. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The firm had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. During the same period last year, the company earned $1.09 earnings per share. The business's revenue was up 14.3% compared to the same quarter last year. On average, equities analysts expect that Crane NXT will post 4.27 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.13%. Crane NXT's dividend payout ratio is currently 20.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Crane NXT by 2.8% in the third quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company's stock valued at $68,372,000 after acquiring an additional 33,664 shares during the period. Pacer Advisors Inc. boosted its holdings in Crane NXT by 93.4% in 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 grew 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 worth $66,626,000 after purchasing an additional 33,460 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Crane NXT by 18.3% during the third quarter. Congress Asset Management Co. now owns 742,813 shares of the company's stock worth $41,672,000 after purchasing an additional 114,707 shares during the period. Finally, Capital International Investors raised its position in shares of Crane NXT by 40.0% in the first 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. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Company Profile

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.