Edward S. Switter Sells 49,409 Shares of Crane Holdings, Co. (NYSE:CR) Stock

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Tuesday, February 28th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, February 27th. Crane’s payout ratio is 24.90%.

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

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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.