Intech Investment Management LLC Acquires 17,762 Shares of Crane NXT, Co. (NYSE:CXT)

Intech Investment Management LLC increased its position in Crane NXT, Co. (NYSE:CXT) by 59.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 47,786 shares of the company’s stock after acquiring an additional 17,762 shares during the period. Intech Investment Management LLC’s holdings in Crane NXT were worth $2,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CXT. Atria Investments Inc increased its position in Crane NXT by 6.0% in the third quarter. Atria Investments Inc now owns 3,700 shares of the company’s stock worth $208,000 after purchasing an additional 208 shares during the period. Quest Partners LLC acquired a new stake in Crane NXT in the third quarter worth about $181,000. PNC Financial Services Group Inc. increased its position in Crane NXT by 9.5% in the third quarter. PNC Financial Services Group Inc. now owns 16,910 shares of the company’s stock worth $949,000 after purchasing an additional 1,473 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Crane NXT by 64.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,891 shares of the company’s stock worth $3,360,000 after purchasing an additional 23,580 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Crane NXT by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 444,863 shares of the company’s stock worth $24,957,000 after purchasing an additional 12,026 shares during the period. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Price Performance

Crane NXT stock opened at $55.32 on Thursday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 17.34 and a beta of 1.32. Crane NXT, Co. has a 1 year low of $52.05 and a 1 year high of $67.01. The business has a 50-day moving average of $59.63 and a 200-day moving average of $58.29. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. On average, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a $0.17 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. Crane NXT’s payout ratio is currently 21.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a research report on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.33.

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.