Connor Clark & Lunn Investment Management Ltd. Takes Position in Crane $CR

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Crane (NYSE:CR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,212 shares of the conglomerate’s stock, valued at approximately $420,000.

Other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in Crane by 63.4% during the second quarter. Parkside Financial Bank & Trust now owns 219 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 85 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Crane by 6.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 6,666 shares of the conglomerate’s stock valued at $1,266,000 after buying an additional 377 shares during the period. AE Wealth Management LLC increased its holdings in shares of Crane by 2.0% during the 2nd quarter. AE Wealth Management LLC now owns 3,254 shares of the conglomerate’s stock worth $618,000 after buying an additional 63 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Crane by 1.0% in the 2nd quarter. Sterling Capital Management LLC now owns 56,750 shares of the conglomerate’s stock worth $10,776,000 after buying an additional 571 shares during the period. Finally, Savant Capital LLC purchased a new position in shares of Crane in the 2nd quarter worth $261,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Stock Performance

Crane stock opened at $175.91 on Friday. The firm has a market capitalization of $10.13 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. Crane has a one year low of $127.04 and a one year high of $203.89. The stock’s 50 day moving average price is $184.18 and its 200 day moving average price is $184.42. 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 posted its quarterly earnings data on Monday, October 27th. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $589.20 million for the quarter, compared to analyst estimates of $578.54 million. During the same quarter last year, the firm posted $1.38 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. Crane has set its FY 2025 guidance at 5.750-5.950 EPS. As a group, sell-side analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

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

Insiders Place Their Bets

In other news, VP Alejandro Alcala sold 20,791 shares of the firm’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 directly owned 33,526 shares in the company, valued at $6,461,801.24. This trade represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CR shares. Weiss Ratings restated a “buy (b-)” rating on shares of Crane in a research note on Wednesday. UBS Group reaffirmed a “buy” rating and issued a $230.00 price objective (up from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Stifel Nicolaus increased their target price on shares of Crane from $200.00 to $202.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. DA Davidson set a $235.00 price target on shares of Crane in a research report on Thursday, October 30th. Finally, Bank of America boosted 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. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and a consensus target price of $223.60.

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.