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 Form 13F filing with the Securities & Exchange Commission. The fund owned 30,024 shares of the company’s stock after selling 14,170 shares during the period. Intech Investment Management LLC’s holdings in Crane NXT were worth $1,684,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in Crane NXT by 2.8% in the third quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock valued at $68,372,000 after acquiring an additional 33,664 shares during the last quarter. Pacer Advisors Inc. grew its position in Crane NXT by 93.4% in the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after acquiring an additional 548,155 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Crane NXT by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock valued at $66,626,000 after acquiring an additional 33,460 shares during the last quarter. Congress Asset Management Co. grew its position in Crane NXT by 18.3% in the third quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock valued at $41,672,000 after acquiring an additional 114,707 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Crane NXT by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 522,205 shares of the company’s stock valued at $32,074,000 after acquiring an additional 19,224 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

Crane NXT stock opened at $62.20 on Tuesday. The stock’s 50 day moving average is $56.22 and its 200 day moving average is $58.32. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01. The firm has a market cap of $3.56 billion, a P/E ratio of 20.39 and a beta of 1.33. Crane NXT, Co. has a one year low of $50.31 and a one year high of $64.80.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $403.50 million for 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 period in the previous year, the firm earned $1.09 earnings per share. As a group, research analysts expect that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid 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 dividend payout ratio is currently 20.98%.

Analyst Upgrades and Downgrades

CXT has been the topic of several research reports. Northland Securities reduced their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Robert W. Baird boosted their price target on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. DA Davidson restated a “buy” rating and set a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Finally, Baird R W upgraded Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th.

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.