Truist Financial Corp Grows Position in Crane $CR

Truist Financial Corp increased its stake in Crane (NYSE:CR) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,182 shares of the conglomerate’s stock after purchasing an additional 1,583 shares during the quarter. Truist Financial Corp owned 0.06% of Crane worth $6,491,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its holdings in shares of Crane by 1.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 989,002 shares of the conglomerate’s stock valued at $151,496,000 after purchasing an additional 12,505 shares in the last quarter. Bain Capital Public Equity Management II LLC increased its holdings in Crane by 117.3% in the first quarter. Bain Capital Public Equity Management II LLC now owns 937,237 shares of the conglomerate’s stock valued at $143,566,000 after buying an additional 505,983 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Crane by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 842,240 shares of the conglomerate’s stock valued at $129,011,000 after buying an additional 44,360 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Crane by 0.4% in the 1st quarter. Neuberger Berman Group LLC now owns 776,038 shares of the conglomerate’s stock valued at $118,873,000 after purchasing an additional 3,282 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Crane by 23.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate’s stock valued at $104,127,000 after buying an additional 130,218 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Crane Price Performance

Crane stock opened at $182.51 on Tuesday. Crane has a 1 year low of $127.04 and a 1 year high of $203.89. The firm has a 50 day moving average price of $187.74 and a 200 day moving average price of $175.99. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.

Crane (NYSE:CR) last released its earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share (EPS) 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 firm had revenue of $577.20 million during the quarter, compared to the consensus estimate of $567.70 million. During the same period in the previous year, the firm earned $1.20 earnings per share. Crane’s revenue was up 9.2% compared to the same quarter last year. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Sell-side analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

Insider Transactions at Crane

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was 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 owned 33,526 shares of the company’s stock, valued at approximately $6,461,801.24. The trade was a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.12% of the company’s stock.

Analyst Ratings Changes

CR has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Crane from $187.00 to $226.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane in a research note on Saturday, September 27th. Bank of America raised their price objective on shares of Crane from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. DA Davidson raised their price target on Crane from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus raised their price target on Crane from $189.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.20.

Crane Profile

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.