Intech Investment Management LLC Sells 14,170 Shares of Crane NXT, Co. (NYSE:CXT)

Intech Investment Management LLC lessened its holdings in Crane NXT, Co. (NYSE:CXT) by 32.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,024 shares of the company’s stock after selling 14,170 shares during the period. Intech Investment Management LLC owned 0.05% of Crane NXT worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. LRI Investments LLC raised its stake in Crane NXT by 1,875.0% in the 2nd quarter. LRI Investments LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 600 shares during the period. nVerses Capital LLC bought a new stake in Crane NXT in the 3rd quarter valued at $45,000. Hobbs Group Advisors LLC bought a new stake in Crane NXT in the 2nd quarter valued at $52,000. Blue Trust Inc. raised its stake in Crane NXT by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after acquiring an additional 205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Crane NXT by 16.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares during the period. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Up 3.5 %

Shares of NYSE CXT opened at $62.20 on Tuesday. 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, Co. has a 52 week low of $50.31 and a 52 week high of $64.80. The stock has a market capitalization of $3.56 billion, a P/E ratio of 20.39 and a beta of 1.33. The stock’s fifty day moving average is $56.22 and its 200 day moving average is $58.32.

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

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, November 29th. Crane NXT’s payout ratio is currently 20.98%.

Wall Street Analysts Forecast Growth

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

Crane NXT Company Profile

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.