Belpointe Asset Management LLC Acquires Shares of 391 Crane (NYSE:CR)

Belpointe Asset Management LLC acquired a new stake in shares of Crane (NYSE:CR – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 391 shares of the conglomerate’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Crane by 1.3% in the third quarter. Vanguard Group Inc. now owns 4,472,630 shares of the conglomerate’s stock worth $391,534,000 after buying an additional 56,773 shares during the period. LSV Asset Management increased its holdings in Crane by 0.6% during the 3rd quarter. LSV Asset Management now owns 1,629,882 shares of the conglomerate’s stock worth $142,680,000 after purchasing an additional 10,127 shares during the period. Gamco Investors INC. ET AL increased its holdings in Crane by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,491,577 shares of the conglomerate’s stock worth $161,508,000 after purchasing an additional 12,017 shares during the period. State Street Corp increased its holdings in Crane by 3.9% during the 1st quarter. State Street Corp now owns 1,382,235 shares of the conglomerate’s stock worth $149,668,000 after purchasing an additional 51,792 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Crane by 1.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,338,406 shares of the conglomerate’s stock worth $117,164,000 after purchasing an additional 24,930 shares during the period. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Crane

In other news, VP Edward S. Switter sold 49,409 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 25,174 shares of the company’s stock, valued at approximately $3,017,859.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Max H. Mitchell sold 37,495 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was 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 owns 322,628 shares of the company’s stock, valued at approximately $24,674,589.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Edward S. Switter sold 49,409 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 25,174 shares of the company’s stock, 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 Stock Up 1.6 %

Shares of NYSE CR opened at $75.62 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.29 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The stock’s fifty day simple moving average is $84.07 and its two-hundred day simple moving average is $100.52. Crane has a 12-month low of $67.28 and a 12-month high of $83.00.

Crane Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.72 annualized dividend and a yield of 0.95%. Crane’s dividend payout ratio (DPR) is presently 9.54%.

Analyst Ratings Changes

CR has been the topic of several research reports. UBS Group reduced their price objective on Crane from $120.00 to $82.00 and set a “neutral” rating on the stock in a report on Wednesday, April 5th. DA Davidson raised their price objective on Crane from $90.00 to $92.00 in a report on Friday, May 12th. Finally, StockNews.com initiated coverage on Crane in a report on Sunday, May 21st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.00.

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.