Crane NXT (NYSE:CXT) Earns “Buy” Rating from DA Davidson

DA Davidson reiterated their buy rating on shares of Crane NXT (NYSE:CXT) in a report published on Monday, Benzinga reports. They currently have a $100.00 price objective on the stock.

Crane NXT Stock Down 1.0 %

CXT stock opened at $55.29 on Monday. Crane NXT has a 52-week low of $48.42 and a 52-week high of $64.80. The company’s 50 day simple moving average is $57.76 and its 200-day simple moving average is $59.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. The firm has a market capitalization of $3.16 billion, a P/E ratio of 17.44 and a beta of 1.33.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The business had revenue of $370.60 million for the quarter, compared to analyst estimates of $367.08 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Crane NXT will post 4.28 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT’s dividend payout ratio is 20.19%.

Institutional Trading of Crane NXT

Large investors have recently added to or reduced their stakes in the business. LRI Investments LLC bought a new stake in shares of Crane NXT during the 1st quarter worth $38,000. Hobbs Group Advisors LLC bought a new position in shares of Crane NXT during the 2nd quarter worth about $52,000. Blue Trust Inc. lifted its holdings in Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after purchasing an additional 205 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Crane NXT by 154.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock valued at $100,000 after purchasing an additional 984 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Crane NXT by 9.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after purchasing an additional 195 shares during 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.