Allspring Global Investments Holdings LLC Has $9.27 Million Position in Crane Holdings, Co. (NYSE:CR)

Allspring Global Investments Holdings LLC increased its stake in Crane Holdings, Co. (NYSE:CRGet Rating) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 105,899 shares of the conglomerate’s stock after purchasing an additional 16,788 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.19% of Crane worth $9,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CR. Pinebridge Investments L.P. lifted its holdings in Crane by 237.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 337 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. WASHINGTON TRUST Co bought a new position in Crane in the 3rd quarter worth approximately $35,000. Zions Bancorporation N.A. bought a new position in Crane in the 1st quarter worth approximately $42,000. CoreCap Advisors LLC bought a new position in Crane in the 2nd quarter worth approximately $45,000. Finally, Wipfli Financial Advisors LLC bought a new position in Crane in the 3rd quarter worth approximately $67,000. 70.83% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Performance

CR opened at $107.71 on Friday. The stock has a market cap of $6.05 billion, a PE ratio of 15.61, a P/E/G ratio of 1.42 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. Crane Holdings, Co. has a 1 year low of $82.14 and a 1 year high of $114.87. The stock’s 50 day simple moving average is $102.85 and its 200-day simple moving average is $97.96.

Crane (NYSE:CRGet Rating) last announced its quarterly earnings results on Monday, October 24th. The conglomerate reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.01. Crane had a return on equity of 22.03% and a net margin of 12.25%. The firm had revenue of $815.00 million for the quarter, compared to analysts’ expectations of $816.62 million. During the same period in the prior year, the business posted $1.89 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. Sell-side analysts forecast that Crane Holdings, Co. will post 7.65 EPS for the current year.

Wall Street Analyst Weigh In

CR has been the topic of several recent analyst reports. TheStreet raised Crane from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. Morgan Stanley upgraded Crane from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $116.00 to $129.00 in a research report on Monday, December 12th. Stifel Nicolaus lowered their price objective on Crane from $123.00 to $121.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Finally, StockNews.com cut Crane from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 26th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $125.00.

Insider Buying and Selling at Crane

In other Crane news, SVP Alejandro Alcala sold 25,649 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $104.38, for a total value of $2,677,242.62. Following the sale, the senior vice president now directly owns 22,177 shares in the company, valued at $2,314,835.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crane news, SVP Alejandro Alcala sold 25,649 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $104.38, for a total value of $2,677,242.62. Following the transaction, the senior vice president now owns 22,177 shares of the company’s stock, valued at $2,314,835.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kurt F. Gallo sold 2,750 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was 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. Insiders have sold 151,409 shares of company stock worth $15,809,162 over the last three months. Company insiders own 2.40% of the company’s stock.

Crane Profile

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Crane Holdings Co engages in the management of a subsidiary, which manufacture aerospace equipment, electronics systems, and flow control systems. The company was founded on December 2, 2021 and is headquartered in Stamford, CT.

See Also

Institutional Ownership by Quarter for Crane (NYSE:CR)

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