Crane NXT (NYSE:CXT) Reaches New 52-Week High – Still a Buy?

Crane NXT, Co. (NYSE:CXT) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $65.53 and last traded at $65.57, with a volume of 28665 shares traded. The stock had previously closed at $63.72.

Analysts Set New Price Targets

Several brokerages have commented on CXT. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Robert W. Baird boosted 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. DA Davidson restated a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Finally, Northland Securities dropped their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th.

Crane NXT Stock Performance

The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $59.93 and a 200 day moving average price of $58.15. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 21.79 and a beta of 1.35.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. The business 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%. Crane NXT’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. As a group, analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.96%. Crane NXT’s payout ratio is 20.98%.

Hedge Funds Weigh In On Crane NXT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in Crane NXT during the 3rd quarter valued at about $32,000. Fifth Third Bancorp lifted its stake in shares of Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after purchasing an additional 276 shares during the period. nVerses Capital LLC acquired a new position in shares of Crane NXT in the 3rd quarter valued at $45,000. Benjamin F. Edwards & Company Inc. increased its stake in Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after purchasing an additional 265 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Crane NXT by 17.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock valued at $144,000 after acquiring an additional 380 shares in the last quarter. 77.49% of the stock is 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.