Allianz Asset Management GmbH Acquires 3,584 Shares of Crane NXT, Co. $CXT

Allianz Asset Management GmbH raised its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,358 shares of the company’s stock after acquiring an additional 3,584 shares during the quarter. Allianz Asset Management GmbH owned about 0.06% of Crane NXT worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in 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 purchasing an additional 391 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Crane NXT during the first quarter valued at approximately $44,000. Financial Harvest LLC bought a new stake in Crane NXT during the 1st quarter worth approximately $139,000. GAMMA Investing LLC lifted its stake in Crane NXT by 14.1% in 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 bought a new position in Crane NXT in the 2nd quarter valued at $204,000. 77.49% of the stock is owned by institutional investors.

Crane NXT Stock Down 0.6%

Shares of NYSE CXT opened at $66.14 on Friday. The firm has a fifty day simple moving average of $63.12 and a two-hundred day simple moving average of $57.00. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $69.00. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.80 billion, a PE ratio of 25.24 and a beta of 1.36.

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

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, August 29th. Crane NXT’s dividend payout ratio is 25.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CXT shares. DA Davidson restated a “buy” rating and set a $85.00 price target on shares of Crane NXT in a research report on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a report on Friday. Finally, Oppenheimer upped their target price on Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.00.

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.