AE Wealth Management LLC cut its holdings in shares of Crane Holdings, Co. (NYSE:CR – Get Rating) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,537 shares of the conglomerate’s stock after selling 682 shares during the period. AE Wealth Management LLC’s holdings in Crane were worth $1,185,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Pinebridge Investments L.P. boosted its holdings in Crane by 237.0% in the second quarter. Pinebridge Investments L.P. now owns 337 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 237 shares during the period. WASHINGTON TRUST Co purchased a new position in shares of Crane in the 3rd quarter valued at about $35,000. Zions Bancorporation N.A. acquired a new position in shares of Crane during the first quarter worth about $42,000. CoreCap Advisors LLC purchased a new stake in shares of Crane during the second quarter worth approximately $45,000. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Crane by 29.7% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 825 shares of the conglomerate’s stock valued at $72,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 70.83% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on CR. Stifel Nicolaus lowered their price target on shares of Crane from $123.00 to $121.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Morgan Stanley raised Crane from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $116.00 to $129.00 in a report on Monday, December 12th. TheStreet raised Crane from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. Finally, StockNews.com downgraded Crane from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 26th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $125.00.
Crane Stock Performance
Crane (NYSE:CR – Get Rating) last issued its quarterly earnings data on Monday, October 24th. The conglomerate reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.01. The company had revenue of $815.00 million for the quarter, compared to analyst estimates of $816.62 million. Crane had a return on equity of 22.03% and a net margin of 12.25%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 earnings per share. On average, sell-side analysts expect that Crane Holdings, Co. will post 7.65 earnings per share for the current fiscal year.
Insider Buying and Selling at Crane
In other news, SVP Kurt F. Gallo sold 2,750 shares of Crane stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $105.53, for a total value of $290,207.50. Following the transaction, the senior vice president now directly owns 25,845 shares of the company’s stock, valued at approximately $2,727,422.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crane news, SVP Alejandro Alcala sold 25,649 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $104.38, for a total transaction of $2,677,242.62. Following the completion of the sale, the senior vice president now directly owns 22,177 shares of the company’s stock, valued at approximately $2,314,835.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kurt F. Gallo sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $105.53, for a total value of $290,207.50. Following the completion of the transaction, the senior vice president now directly owns 25,845 shares in the company, valued at approximately $2,727,422.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 151,409 shares of company stock worth $15,809,162. 2.40% of the stock is owned by insiders.
Crane Company Profile
Crane Holdings Co, together with its subsidiaries, manufactures and sells engineered industrial products in the Americas, Europe, the Middle East, Asia, and Australia. The company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials.
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