Crane $CR Stake Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of Crane (NYSE:CR) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,911 shares of the conglomerate’s stock after selling 200 shares during the period. State of Alaska Department of Revenue’s holdings in Crane were worth $2,071,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Matrix Trust Co increased its stake in Crane by 4.3% during the second quarter. Matrix Trust Co now owns 1,599 shares of the conglomerate’s stock valued at $304,000 after purchasing an additional 66 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Crane by 3.1% during the first quarter. EP Wealth Advisors LLC now owns 2,445 shares of the conglomerate’s stock valued at $375,000 after purchasing an additional 74 shares during the last quarter. TD Asset Management Inc increased its stake in Crane by 0.5% during the first quarter. TD Asset Management Inc now owns 19,326 shares of the conglomerate’s stock valued at $2,960,000 after purchasing an additional 92 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Crane by 4.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,432 shares of the conglomerate’s stock valued at $373,000 after purchasing an additional 95 shares during the last quarter. Finally, Intrust Bank NA increased its stake in Crane by 2.7% during the first quarter. Intrust Bank NA now owns 3,686 shares of the conglomerate’s stock valued at $565,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Crane Price Performance

Shares of NYSE CR opened at $179.92 on Friday. Crane has a twelve month low of $127.04 and a twelve month high of $203.89. 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 company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.93 and a beta of 1.25. The firm has a 50-day moving average of $188.11 and a two-hundred day moving average of $175.28.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.15. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $577.20 million during the quarter, compared to the consensus estimate of $567.70 million. During the same period in the prior year, the company earned $1.20 EPS. Crane’s revenue was up 9.2% on a year-over-year basis. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 0.5%. Crane’s dividend payout ratio is currently 15.31%.

Insider Buying and Selling

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $192.74, for a total transaction of $4,007,257.34. Following the completion of the sale, the vice president directly owned 33,526 shares of the company’s stock, valued at approximately $6,461,801.24. This represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CR. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $187.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. UBS Group restated a “buy” rating and set a $230.00 price target (up previously from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Bank of America upped their price target on shares of Crane from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Stifel Nicolaus upped their price target on shares of Crane from $189.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Finally, DA Davidson upped their price target on shares of Crane from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $222.20.

About Crane

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.