Algert Global LLC Sells 6,220 Shares of Crane $CR

Key Points

• Algert Global LLC has reduced its stake in Crane (NYSE:CR) by 44.2%, now holding 7,867 shares worth approximately $1.2 million after selling 6,220 shares in Q1.
• Crane has received favorable analyst ratings with four brokerages giving it a "buy" rating, and Deutsche Bank recently increasing its price target to $226.00.
• The company declared a quarterly dividend of $0.23 per share, resulting in an annualized yield of 0.5%, with payments scheduled for September 10th.

Algert Global LLC reduced its position in Crane (NYSE:CR - Free Report) by 44.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,867 shares of the conglomerate's stock after selling 6,220 shares during the quarter. Algert Global LLC's holdings in Crane were worth $1,205,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in Crane in the fourth quarter worth approximately $5,532,000. Golden State Wealth Management LLC increased its holdings in Crane by 104.8% in the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock worth $39,000 after purchasing an additional 131 shares in the last quarter. Twelve Points Wealth Management LLC increased its holdings in Crane by 19.6% in the first quarter. Twelve Points Wealth Management LLC now owns 11,405 shares of the conglomerate's stock worth $1,747,000 after purchasing an additional 1,870 shares in the last quarter. HB Wealth Management LLC bought a new stake in Crane in the first quarter worth approximately $339,000. Finally, Alps Advisors Inc. grew its stake in Crane by 14.1% in the first quarter. Alps Advisors Inc. now owns 41,970 shares of the conglomerate's stock valued at $6,429,000 after acquiring an additional 5,197 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Crane Stock Performance

CR stock traded down $1.9930 during midday trading on Monday, hitting $192.2370. The company's stock had a trading volume of 272,878 shares, compared to its average volume of 310,328. The stock's 50-day moving average price is $189.96 and its 200 day moving average price is $171.20. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a 1 year low of $127.04 and a 1 year high of $203.89. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.93 and a beta of 1.26.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $567.70 million. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business's revenue was up 9.2% on a year-over-year basis. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, equities analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be 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 of this dividend is Friday, August 29th. Crane's dividend payout ratio is currently 15.31%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group reissued a "buy" rating and issued a $230.00 price objective (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Stifel Nicolaus raised 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. Bank of America raised their price objective on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised 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. Finally, DA Davidson lifted their target price on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $222.20.

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.