Abacus Planning Group Inc. Purchases Shares of 2,684 Crane $CR

Key Points

• Abacus Planning Group Inc. has acquired 2,684 shares of Crane, valued at approximately $510,000, making Crane its 27th largest holding.
• Crane reported earnings of $1.49 per share for the last quarter, surpassing estimates, and projected its FY 2025 guidance ranging from 5.500 to 5.800 EPS.
• Recent analyst upgrades have increased Crane's price targets significantly, with Deutsche Bank raising its target from $187.00 to $226.00 and others following suit, indicating a consensus rating of "Moderate Buy".

Abacus Planning Group Inc. purchased a new stake in shares of Crane (NYSE:CR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,684 shares of the conglomerate's stock, valued at approximately $510,000. Crane accounts for approximately 0.2% of Abacus Planning Group Inc.'s investment portfolio, making the stock its 27th biggest holding.

A number of other large investors have also made changes to their positions in CR. Golden State Wealth Management LLC grew its stake in shares of Crane by 104.8% during the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after purchasing an additional 131 shares during the period. Westpac Banking Corp bought a new position in shares of Crane during the 1st quarter valued at approximately $76,000. Fifth Third Bancorp grew its stake in shares of Crane by 31.4% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock valued at $87,000 after acquiring an additional 136 shares during the period. UMB Bank n.a. grew its stake in shares of Crane by 84.7% during the 1st quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock valued at $105,000 after acquiring an additional 315 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of Crane during the 1st quarter valued at approximately $105,000. 75.14% of the stock is currently owned by institutional investors.

Crane Trading Up 0.1%

CR stock opened at $182.15 on Tuesday. Crane has a 1-year low of $127.04 and a 1-year high of $203.89. 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 company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.93 and a beta of 1.25. The business has a 50 day simple moving average of $189.22 and a two-hundred day simple moving average of $174.06.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.15. Crane had a return on equity of 24.45% and a net margin of 13.10%.The business had revenue of $577.20 million during the quarter, compared to the consensus estimate of $567.70 million. During the same period in the prior year, the company posted $1.20 EPS. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 dividend yield of 0.5%. The ex-dividend date was Friday, August 29th. Crane's dividend payout ratio is currently 15.31%.

Analyst Upgrades and Downgrades

CR has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. UBS Group reiterated a "buy" rating and set a $230.00 price objective (up from $215.00) on shares of Crane in a research note on Wednesday, July 30th. DA Davidson boosted their price objective on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Bank of America boosted their price objective on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Finally, Stifel Nicolaus boosted their price objective on Crane from $189.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Crane presently has a consensus rating of "Moderate Buy" and an average price target of $222.20.

Insider Activity at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the stock in a transaction that occurred on 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 transaction, the vice president directly owned 33,526 shares in the company, valued at approximately $6,461,801.24. This represents a 38.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.12% of the company's stock.

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.

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