Crane NXT (NYSE:CXT) Downgraded to “Market Perform” Rating by Northland Securities

Northland Securities cut shares of Crane NXT (NYSE:CXT) from an outperform rating to a market perform rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has $72.00 price objective on the stock.

Separately, Robert W. Baird increased their target price on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

Crane NXT Stock Down 0.9 %

Shares of CXT opened at $59.25 on Tuesday. The firm’s 50-day simple moving average is $61.05 and its 200 day simple moving average is $58.57. Crane NXT has a 52 week low of $52.89 and a 52 week high of $67.00. The firm has a market cap of $3.39 billion, a P/E ratio of 19.43 and a beta of 1.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. On average, analysts forecast that Crane NXT will post 4.26 earnings per share for the current year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 28th will be given a dividend of $0.17 per share. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.15%. Crane NXT’s dividend payout ratio (DPR) is currently 20.98%.

Institutional Trading of Crane NXT

Several large investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Crane NXT in the 3rd quarter valued at approximately $45,000. Wealth Enhancement Advisory Services LLC lifted its stake in Crane NXT by 25.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,469 shares of the company’s stock valued at $251,000 after purchasing an additional 908 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Crane NXT by 0.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 82,518 shares of the company’s stock valued at $4,628,000 after purchasing an additional 385 shares during the last quarter. Congress Asset Management Co. lifted its stake in Crane NXT by 18.3% in the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock valued at $41,672,000 after purchasing an additional 114,707 shares during the last quarter. Finally, Radnor Capital Management LLC bought a new position in Crane NXT in the 3rd quarter valued at approximately $948,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

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.