Cambridge Trust Co. Cuts Position in Crane Holdings, Co. (NYSE:CR)

Posted by Defense World Staff on Mar 19th, 2023

Cambridge Trust Co. reduced its position in shares of Crane Holdings, Co. (NYSE:CR – Get Rating) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,148 shares of the conglomerate’s stock after selling 190 shares during the period. Cambridge Trust Co.’s holdings in Crane were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CR. Truvestments Capital LLC purchased a new stake in Crane during the 3rd quarter worth approximately $31,000. WASHINGTON TRUST Co purchased a new stake in shares of Crane during the third quarter worth $35,000. Zions Bancorporation N.A. purchased a new position in Crane in the first quarter valued at $42,000. CoreCap Advisors LLC acquired a new position in Crane during the 2nd quarter worth $45,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Crane during the 3rd quarter worth about $67,000. 70.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Crane

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

Crane Price Performance

Shares of NYSE CR opened at $110.03 on Friday. The stock’s 50-day simple moving average is $115.42 and its 200-day simple moving average is $104.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The firm has a market capitalization of $6.21 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.53 and a beta of 1.50. Crane Holdings, Co. has a fifty-two week low of $82.14 and a fifty-two week high of $123.78.

Crane (NYSE:CR – Get Rating) last released its quarterly earnings data on Monday, January 23rd. The conglomerate reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. The company had revenue of $824.10 million for the quarter, compared to analysts’ expectations of $819.89 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. As a group, equities research analysts forecast that Crane Holdings, Co. will post 7.84 EPS for the current fiscal year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 8th. Shareholders of record on Tuesday, February 28th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Monday, February 27th. Crane’s payout ratio is 24.90%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CR shares. DA Davidson lifted their price objective on Crane from $130.00 to $140.00 in a research note on Wednesday, January 25th. StockNews.com began coverage on shares of Crane in a report on Saturday. They set a “buy” rating for the company. Finally, Morgan Stanley upgraded shares of 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 report on Monday, December 12th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Crane has an average rating of “Buy” and an average price target of $128.75.

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.