Sumitomo Mitsui Trust Group Inc. Acquires 3,967 Shares of Crane $CR

Sumitomo Mitsui Trust Group Inc. raised its holdings in Crane (NYSE:CR) by 276.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,402 shares of the conglomerate’s stock after acquiring an additional 3,967 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Crane were worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CR. Westpac Banking Corp acquired a new stake in shares of Crane during the first quarter worth $76,000. Wayfinding Financial LLC acquired a new position in Crane in the first quarter valued at $105,000. Brooklyn Investment Group boosted its position in Crane by 35.7% during the first quarter. Brooklyn Investment Group now owns 809 shares of the conglomerate’s stock valued at $124,000 after acquiring an additional 213 shares during the last quarter. CWM LLC grew its holdings in Crane by 70.7% during the 1st quarter. CWM LLC now owns 920 shares of the conglomerate’s stock worth $141,000 after acquiring an additional 381 shares during the period. Finally, AlphaQuest LLC raised its position in shares of Crane by 39.4% in the 1st quarter. AlphaQuest LLC now owns 924 shares of the conglomerate’s stock worth $142,000 after acquiring an additional 261 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Trading Down 1.0%

NYSE:CR opened at $189.99 on Friday. Crane has a 52 week low of $127.04 and a 52 week high of $203.89. The firm has a 50-day moving average price of $184.46 and a two-hundred day moving average price of $180.83. 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 cap of $10.93 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22.

Crane (NYSE:CR) last announced its earnings results on Monday, October 27th. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.18. The firm had revenue of $589.20 million during the quarter, compared to analyst estimates of $578.54 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.The business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.38 EPS. Crane has set its FY 2025 guidance at 5.750-5.950 EPS. On average, equities analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.92 annualized dividend and a yield of 0.5%. Crane’s payout ratio is currently 14.74%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CR. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their price target on shares of Crane from $200.00 to $202.00 and gave the company a “hold” rating in a research note on Wednesday. DA Davidson set a $235.00 price objective on shares of Crane in a research report on Thursday. Bank of America raised their target price on Crane from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, UBS Group reaffirmed a “buy” rating and issued a $230.00 target price (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $223.60.

Insiders Place Their Bets

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $192.74, for a total value of $4,007,257.34. Following the transaction, the vice president directly owned 33,526 shares in the company, valued at $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 available through the SEC website. 2.12% of the stock is currently owned by insiders.

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.