Crane $CR Shares Sold by KBC Group NV

KBC Group NV trimmed its position in shares of Crane (NYSE:CR) by 39.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,307 shares of the conglomerate’s stock after selling 842 shares during the quarter. KBC Group NV’s holdings in Crane were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in Crane by 63.4% during the second quarter. Parkside Financial Bank & Trust now owns 219 shares of the conglomerate’s stock valued at $42,000 after buying an additional 85 shares during the period. Allworth Financial LP raised its position in shares of Crane by 15.4% in the second quarter. Allworth Financial LP now owns 390 shares of the conglomerate’s stock worth $74,000 after acquiring an additional 52 shares during the period. Westpac Banking Corp purchased a new stake in shares of Crane during the 1st quarter worth about $76,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Crane during the 2nd quarter worth about $96,000. Finally, Brooklyn Investment Group boosted its stake in shares of Crane by 35.7% during the 1st quarter. Brooklyn Investment Group now owns 809 shares of the conglomerate’s stock worth $124,000 after acquiring an additional 213 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

NYSE:CR opened at $179.34 on Wednesday. Crane has a 12 month low of $127.04 and a 12 month high of $203.89. The stock has a 50 day moving average of $184.47 and a two-hundred day moving average of $184.52. 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 firm has a market cap of $10.33 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22.

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

Crane Dividend Announcement

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

Wall Street Analyst Weigh In

CR has been the subject of a number of analyst reports. DA Davidson set a $235.00 price target on Crane in a report on Thursday, October 30th. UBS Group restated a “buy” rating and issued a $230.00 price objective (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Crane in a research note on Thursday, November 13th. Stifel Nicolaus increased their target price on Crane from $200.00 to $202.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Finally, Bank of America lifted their price target on shares of Crane from $220.00 to $225.00 and gave the company 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.60.

Insider Activity

In other news, VP Alejandro Alcala sold 20,791 shares of the company’s stock in a transaction on 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 owned 33,526 shares of the company’s stock, valued at $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. 2.12% of the stock is owned by insiders.

Crane Company 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.