PFG Advisors Buys New Stake in Crane $CR

PFG Advisors purchased a new position in shares of Crane (NYSE:CR) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,114 shares of the conglomerate’s stock, valued at approximately $212,000.

A number of other institutional investors also recently made changes to their positions in CR. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Crane during the second quarter valued at $754,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Crane in the 2nd quarter valued at about $420,000. Parkside Financial Bank & Trust lifted its holdings in Crane by 63.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 219 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 85 shares in the last quarter. Los Angeles Capital Management LLC boosted 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 worth $1,266,000 after purchasing an additional 377 shares during the last quarter. Finally, AE Wealth Management LLC boosted its stake 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 purchasing an additional 63 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Stock Performance

Shares of NYSE:CR opened at $190.89 on Thursday. The firm has a market capitalization of $10.99 billion, a PE ratio of 25.28, a P/E/G ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The business has a 50-day moving average of $184.63 and a two-hundred day moving average of $183.73. Crane has a 12 month low of $127.04 and a 12 month high of $203.89.

Crane (NYSE:CR) last released its quarterly earnings data 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. Crane had a return on equity of 24.45% and a net margin of 13.10%.The business had revenue of $589.20 million for the quarter, compared to analyst estimates of $578.54 million. During the same period in the previous year, the company posted $1.38 EPS. The company’s revenue was up .8% compared to the same quarter last year. Crane has set its FY 2025 guidance at 5.750-5.950 EPS. As a group, research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th will be 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 is Friday, November 28th. Crane’s payout ratio is 14.74%.

Insider Transactions at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Crane from $200.00 to $202.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings raised shares of Crane from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, November 7th. DA Davidson set a $235.00 price objective on Crane in a report on Thursday, October 30th. Bank of America lifted their price objective on Crane from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Finally, UBS Group reiterated a “buy” rating and issued a $230.00 target price (up from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $223.60.

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.