Crane NXT (NYSE:CXT) Given “Buy” Rating at DA Davidson

DA Davidson restated their buy rating on shares of Crane NXT (NYSE:CXT) in a report issued on Monday,Benzinga reports. DA Davidson currently has a $85.00 price target on the stock.

Crane NXT Stock Down 1.3%

Shares of Crane NXT stock opened at $59.52 on Monday. Crane NXT has a 1 year low of $41.54 and a 1 year high of $67.00. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 22.72 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89. The firm’s 50-day moving average is $59.48 and its two-hundred day moving average is $54.39.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $404.40 million for the quarter, compared to analysts’ expectations of $382.79 million. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. As a group, research analysts expect that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 29th. Crane NXT’s payout ratio is 25.95%.

Institutional Investors Weigh In On Crane NXT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in shares of Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock valued at $42,000 after acquiring an additional 256 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Crane NXT by 5,320.8% during the first quarter. GAMMA Investing LLC now owns 133,948 shares of the company’s stock worth $6,885,000 after buying an additional 131,477 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Crane NXT by 46.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company’s stock worth $381,000 after buying an additional 2,074 shares during the period. UMB Bank n.a. boosted its holdings in Crane NXT by 87.2% in the first quarter. UMB Bank n.a. now owns 702 shares of the company’s stock valued at $36,000 after purchasing an additional 327 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in Crane NXT by 18.9% in the first quarter. LPL Financial LLC now owns 60,611 shares of the company’s stock valued at $3,115,000 after purchasing an additional 9,617 shares in the last quarter. 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.