Crane (NYSE:CR) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in Crane (NYSE:CR – Get Rating) by 32.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,947 shares of the conglomerate’s stock after selling 29,915 shares during the period. Raymond James & Associates owned 0.11% of Crane worth $6,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CR. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Crane by 9.4% during 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. Ethic Inc. bought a new position in shares of Crane in the 3rd quarter worth about $755,000. Interval Partners LP boosted its holdings in shares of Crane by 6.5% in the 3rd quarter. Interval Partners LP now owns 122,527 shares of the conglomerate’s stock valued at $10,726,000 after buying an additional 7,450 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of Crane during the 4th quarter valued at about $69,000. Finally, Shell Asset Management Co. raised its stake in Crane by 57.4% during the third quarter. Shell Asset Management Co. now owns 10,771 shares of the conglomerate’s stock worth $943,000 after acquiring an additional 3,927 shares during the period. 70.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Crane news, CEO Max H. Mitchell sold 37,495 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $76.48, for a total transaction of $2,867,617.60. Following the completion of the transaction, the chief executive officer now directly owns 322,628 shares of the company’s stock, valued at approximately $24,674,589.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Crane news, CEO Max H. Mitchell sold 37,495 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $76.48, for a total value of $2,867,617.60. Following the completion of the sale, the chief executive officer now directly owns 322,628 shares of the company’s stock, valued at approximately $24,674,589.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward S. Switter sold 49,409 shares of Crane stock in a transaction that occurred 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 completion of 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. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CR. StockNews.com started coverage on Crane in a research note on Sunday. They issued a “buy” rating for the company. UBS Group dropped their target price on Crane from $120.00 to $82.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 5th. Finally, DA Davidson boosted their price target on shares of Crane from $90.00 to $92.00 in a report on Friday, May 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Crane presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crane Stock Down 0.3 %

Shares of Crane stock opened at $74.45 on Monday. The company has a market capitalization of $4.22 billion, a P/E ratio of 9.86, a PEG ratio of 1.93 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a 1-year low of $67.28 and a 1-year high of $83.00. The business’s fifty day moving average price is $87.15 and its two-hundred day moving average price is $101.28.

Crane Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Wednesday, May 31st will be given a $0.18 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 0.97%. Crane’s dividend payout ratio is presently 9.54%.

About Crane

(Get Rating)

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.