Intech Investment Management LLC Sells 6,974 Shares of Crane NXT, Co. $CXT

Intech Investment Management LLC reduced its holdings in Crane NXT, Co. (NYSE:CXT) by 18.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,345 shares of the company’s stock after selling 6,974 shares during the period. Intech Investment Management LLC’s holdings in Crane NXT were worth $1,636,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CXT. AlphaQuest LLC acquired a new position in shares of Crane NXT in the second quarter valued at approximately $25,000. Jones Financial Companies Lllp boosted its position in shares of Crane NXT by 120.3% during the 1st quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $37,000 after acquiring an additional 391 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Crane NXT by 9,087.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 735 shares of the company’s stock worth $40,000 after buying an additional 727 shares during the last quarter. GAMMA Investing LLC increased its position in Crane NXT by 14.1% during the 2nd quarter. GAMMA Investing LLC now owns 2,974 shares of the company’s stock worth $160,000 after purchasing an additional 368 shares in the last quarter. Finally, JB Capital LLC acquired a new position in shares of Crane NXT in the second quarter valued at approximately $204,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CXT has been the topic of a number of analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research note on Tuesday, September 23rd. Oppenheimer upped their price target on Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Crane NXT currently has a consensus rating of “Hold” and an average target price of $74.25.

Crane NXT Stock Performance

Crane NXT stock opened at $54.23 on Friday. The firm has a fifty day simple moving average of $63.11 and a two-hundred day simple moving average of $59.16. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.73. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $69.00. The company has a market capitalization of $3.11 billion, a PE ratio of 20.70 and a beta of 1.37.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, June 1st. The company reported $1.81 earnings per share (EPS) for the quarter. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The business had revenue of $871.50 million for the quarter. Research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 28th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 28th. Crane NXT’s dividend payout ratio (DPR) is presently 25.37%.

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.