Envestnet Asset Management Inc. Raises Stock Holdings in Crane Holdings, Co. (NYSE:CR)

Envestnet Asset Management Inc. boosted its holdings in Crane Holdings, Co. (NYSE:CR – Get Rating) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,987 shares of the conglomerate’s stock after buying an additional 3,948 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Crane worth $3,588,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Credit Suisse AG grew its stake in shares of Crane by 10.6% during the 3rd quarter. Credit Suisse AG now owns 45,284 shares of the conglomerate’s stock valued at $3,963,000 after purchasing an additional 4,347 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Crane by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 667,461 shares of the conglomerate’s stock valued at $58,429,000 after purchasing an additional 6,615 shares during the period. Greenleaf Trust grew its stake in shares of Crane by 6.2% during the 3rd quarter. Greenleaf Trust now owns 3,519 shares of the conglomerate’s stock valued at $308,000 after purchasing an additional 206 shares during the period. Bessemer Group Inc. grew its stake in shares of Crane by 380.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,157 shares of the conglomerate’s stock valued at $102,000 after purchasing an additional 916 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Crane by 9.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,643 shares of the conglomerate’s stock valued at $582,000 after purchasing an additional 569 shares during the period. Hedge funds and other institutional investors own 70.83% of the company’s stock.

Insider Transactions at Crane

In other news, SVP Kurt F. Gallo sold 8,263 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $119.03, for a total transaction of $983,544.89. Following the sale, the senior vice president now directly owns 289 shares of the company’s stock, valued at approximately $34,399.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Edward S. Switter sold 49,409 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $119.88, for a total transaction of $5,923,150.92. Following the sale, the vice president now owns 25,174 shares in the company, valued at approximately $3,017,859.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kurt F. Gallo sold 8,263 shares of the stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $119.03, for a total value of $983,544.89. Following the sale, the senior vice president now owns 289 shares in the company, valued at approximately $34,399.67. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. 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 note on Monday, December 12th. TheStreet upgraded Crane from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. DA Davidson boosted their price objective on Crane from $130.00 to $140.00 in a research note on Wednesday, January 25th. Finally, StockNews.com downgraded Crane from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $128.75.

Crane Trading Up 0.8 %

CR stock opened at $123.36 on Monday. Crane Holdings, Co. has a 1-year low of $82.14 and a 1-year high of $123.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.85. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.65 and a beta of 1.50. The business has a 50 day simple moving average of $112.63 and a two-hundred day simple moving average of $103.36.

Crane (NYSE:CR – Get Rating) last posted its quarterly earnings results on Monday, January 23rd. The conglomerate reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.23. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $824.10 million during the quarter, compared to the consensus estimate of $819.89 million. During the same period in the prior year, the company posted $1.25 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts anticipate that Crane Holdings, Co. will post 8.08 EPS for the current fiscal year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 8th. Stockholders of record on Tuesday, February 28th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.52%. Crane’s dividend payout ratio (DPR) is 24.90%.

About Crane

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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.