Crane NXT (NYSE:CXT) Trading Down 3.6% – Should You Sell?

Crane NXT, Co. (NYSE:CXT)’s stock price traded down 3.6% on Friday . The company traded as low as $63.23 and last traded at $62.99. 38,041 shares were traded during trading, a decline of 89% from the average session volume of 343,203 shares. The stock had previously closed at $65.32.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson reiterated a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Baird R W raised Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Robert W. Baird upped their price objective on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Northland Securities reduced their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th.

Crane NXT Stock Performance

The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 20.90 and a beta of 1.35. The company has a 50-day moving average price of $60.69 and a 200-day moving average price of $58.38. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $403.50 million during the quarter, compared to analyst estimates of $392.44 million. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS. As a group, equities research analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.00%. Crane NXT’s payout ratio is 20.98%.

Institutional Trading of Crane NXT

A number of institutional investors have recently made changes to their positions in CXT. Wilmington Savings Fund Society FSB acquired a new stake in Crane NXT in the third quarter worth approximately $32,000. Fifth Third Bancorp boosted its stake in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after buying an additional 276 shares in the last quarter. nVerses Capital LLC acquired a new position in Crane NXT during the third quarter worth about $45,000. GAMMA Investing LLC raised its position in Crane NXT by 17.4% in the third quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock worth $144,000 after acquiring an additional 380 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Crane NXT in the 3rd quarter valued at about $181,000. 77.49% of the stock is owned by institutional investors and hedge funds.

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.