Assenagon Asset Management S.A. Has $9.52 Million Stake in Crane $CR

Key Points

• Assenagon Asset Management cut its Crane stake by 68.5% during the second quarter, selling 92,801 shares and retaining 42,674 shares valued at approximately $9.52 million. Institutional investors collectively own 75.14% of Crane.
• Analyst sentiment remains positive, with Crane holding a consensus “Buy” rating and an average price target of $236.33, despite some analysts maintaining “Hold” ratings.
• Crane exceeded quarterly expectations with adjusted earnings of $1.79 per share and revenue of $724.7 million, up 25.6% year over year. The company also declared a quarterly dividend of $0.255 per share, implying a 0.5% annual yield.

Assenagon Asset Management S.A. reduced its position in Crane (NYSE:CR - Free Report) by 68.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,674 shares of the conglomerate's stock after selling 92,801 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of Crane worth $9,519,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. TD Capital Management LLC acquired a new position in Crane in the fourth quarter worth about $27,000. Headlands Technologies LLC acquired a new stake in Crane during the second quarter valued at approximately $29,000. Flagship Harbor Advisors LLC bought a new stake in shares of Crane in the 4th quarter valued at approximately $33,000. Kelleher Financial Advisors acquired a new position in shares of Crane in the 3rd quarter worth approximately $33,000. Finally, GHP Investment Advisors Inc. acquired a new position in shares of Crane in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Wall Street Analysts Forecast Growth

CR has been the topic of several recent analyst reports. Wall Street Zen lowered Crane from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Stifel Nicolaus increased their price objective on Crane from $215.00 to $242.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. DA Davidson lifted their price objective on Crane from $235.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, July 30th. BMO Capital Markets assumed coverage on shares of Crane in a research note on Monday, July 20th. They issued an "outperform" rating and a $253.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Crane in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $236.33.

Crane Stock Up 0.7%

Shares of NYSE:CR opened at $220.86 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 2.80 and a debt-to-equity ratio of 0.50. The firm has a market cap of $12.77 billion, a P/E ratio of 38.61, a P/E/G ratio of 2.65 and a beta of 1.03. Crane has a 12 month low of $159.58 and a 12 month high of $230.50. The company's 50-day moving average price is $214.34 and its two-hundred day moving average price is $195.60.

Crane (NYSE:CR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The conglomerate reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.11. Crane had a net margin of 12.97% and a return on equity of 18.67%. The company had revenue of $724.70 million for the quarter, compared to analyst estimates of $708.46 million. During the same period in the prior year, the business earned $1.49 earnings per share. Crane's quarterly revenue was up 25.6% on a year-over-year basis. Crane has set its FY 2026 guidance at 6.850-7.050 EPS. As a group, research analysts forecast that Crane will post 6.96 EPS for the current fiscal year.

Crane Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 31st will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, August 31st. Crane's payout ratio is presently 17.83%.

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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