Assenagon Asset Management S.A. Acquires 63,848 Shares of Crane $CR

Key Points

• Assenagon Asset Management increased its stake in Crane by 89.1% in the first quarter, buying 63,848 additional shares and bringing its total holding to 135,475 shares worth about $23.2 million.
• Crane reported better-than-expected first-quarter results, with EPS of $1.65 versus the $1.44 consensus estimate and revenue of $696.4 million, up 24.9% year over year.
• The company recently paid a quarterly dividend of $0.255 per share and maintains a modest yield of 0.5%, while analysts currently have an average “Buy” rating and a target price of $226.33.

Assenagon Asset Management S.A. boosted its position in Crane (NYSE:CR - Free Report) by 89.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,475 shares of the conglomerate's stock after buying an additional 63,848 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.23% of Crane worth $23,166,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CR. Vaughan Nelson Investment Management L.P. raised its holdings in Crane by 61.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 248,087 shares of the conglomerate's stock worth $42,423,000 after purchasing an additional 94,780 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Crane by 92.7% during the 4th quarter. Hsbc Holdings PLC now owns 113,556 shares of the conglomerate's stock worth $21,198,000 after buying an additional 54,619 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Crane by 8.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 21,077 shares of the conglomerate's stock valued at $3,887,000 after buying an additional 1,670 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Crane by 189.8% in the fourth quarter. Corient Private Wealth LLC now owns 37,722 shares of the conglomerate's stock valued at $6,957,000 after acquiring an additional 24,705 shares during the last quarter. Finally, TD Capital Management LLC acquired a new position in shares of Crane during the 4th quarter worth about $27,000. Institutional investors own 75.14% of the company's stock.

Crane Stock Down 1.9%

CR stock opened at $219.41 on Friday. The business's 50-day moving average price is $189.44 and its 200-day moving average price is $189.88. The stock has a market cap of $12.67 billion, a P/E ratio of 29.06, a PEG ratio of 1.93 and a beta of 1.12. 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 twelve month low of $159.58 and a twelve month high of $226.46.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The conglomerate reported $1.65 EPS for the quarter, beating the consensus estimate of $1.44 by $0.21. The firm had revenue of $696.40 million for the quarter, compared to the consensus estimate of $672.74 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company's revenue was up 24.9% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. Crane has set its FY 2026 guidance at 6.650-6.850 EPS. On average, equities research analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 29th were paid a $0.255 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.02 annualized dividend and a yield of 0.5%. Crane's dividend payout ratio is 18.35%.

Wall Street Analyst Weigh In

CR has been the subject of a number of research analyst reports. Weiss Ratings cut Crane from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, May 4th. DA Davidson reissued a "buy" rating and issued a $235.00 price objective on shares of Crane in a report on Monday, June 1st. Wall Street Zen cut shares of Crane from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Stifel Nicolaus upgraded Crane from a "hold" rating to a "buy" rating and boosted their price target for the company from $200.00 to $215.00 in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $226.33.

Insider Buying and Selling

In related news, Director Susan D. Lynch purchased 150 shares of Crane stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $177.38 per share, with a total value of $26,607.00. Following the transaction, the director owned 370 shares in the company, valued at approximately $65,630.60. The trade was a 68.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.12% of the stock is owned by insiders.

About Crane

Crane Co, headquartered in Stamford, Connecticut, is a diversified manufacturer of engineered industrial products serving customers around the world. The company operates through two primary segments: Aerospace & Electronics and Engineered Materials. Its Aerospace & Electronics division designs and produces valves, fittings, manifolds, and filtration systems for aircraft fuel, hydraulics, and environmental control systems. The Engineered Materials segment focuses on advanced polymers, heat exchangers, and specialized composite solutions for industries including chemical processing, semiconductor manufacturing, and power generation.

With roots dating back to its founding in 1855 in Chicago by R.T.

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