Crane Holdings, Co. (NYSE:CR – Get Rating) VP Edward S. Switter sold 49,409 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $119.88, for a total value of $5,923,150.92. Following the completion of the transaction, the vice president now directly owns 25,174 shares in the company, valued at $3,017,859.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Crane Price Performance
Crane stock opened at $123.36 on Friday. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.62 and a beta of 1.50. The firm’s fifty day moving average is $112.63 and its 200 day moving average is $103.40. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 0.28. Crane Holdings, Co. has a 52-week low of $82.14 and a 52-week high of $123.61.
Crane (NYSE:CR – Get Rating) last released its quarterly earnings results on Monday, January 23rd. The conglomerate reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. The company had revenue of $824.10 million for the quarter, compared to the consensus estimate of $819.89 million. Crane had a net margin of 13.10% and a return on equity of 24.43%. Crane’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Sell-side analysts forecast that Crane Holdings, Co. will post 8.08 EPS for the current fiscal year.
Crane Announces Dividend
Analysts Set New Price Targets
Several research firms have recently issued reports on CR. TheStreet upgraded shares of Crane from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. StockNews.com cut shares of Crane from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Morgan Stanley upgraded Crane from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $116.00 to $129.00 in a research report on Monday, December 12th. Finally, DA Davidson boosted their target price on Crane from $130.00 to $140.00 in a research report on Wednesday, January 25th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $128.75.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. M&T Bank Corp increased its position in Crane by 13.6% during the second quarter. M&T Bank Corp now owns 14,126 shares of the conglomerate’s stock valued at $1,212,000 after acquiring an additional 1,692 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Crane by 9.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,643 shares of the conglomerate’s stock worth $582,000 after purchasing an additional 569 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of Crane by 3.2% in the third quarter. Foundry Partners LLC now owns 50,451 shares of the conglomerate’s stock worth $4,416,000 after purchasing an additional 1,559 shares during the last quarter. Interval Partners LP grew its holdings in shares of Crane by 6.5% in the third quarter. Interval Partners LP now owns 122,527 shares of the conglomerate’s stock worth $10,726,000 after purchasing an additional 7,450 shares during the last quarter. Finally, Shell Asset Management Co. grew its holdings in shares of Crane by 57.4% in the third quarter. Shell Asset Management Co. now owns 10,771 shares of the conglomerate’s stock worth $943,000 after purchasing an additional 3,927 shares during the last quarter. Institutional investors own 70.83% of the company’s stock.
Crane Company Profile
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.
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