Assenagon Asset Management S.A. Takes Position in Crane $CR

Key Points

• Assenagon Asset Management S.A. acquired a new position in Crane by purchasing 73,012 shares valued at approximately $13.86 million, representing about 0.13% of the company.
• Crane reported earnings per share of $1.49 for the last quarter, exceeding the consensus estimate of $1.34, with a 9.2% increase in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.23 per share, equating to an annualized yield of 0.5% and a payout ratio of 15.31%.

Assenagon Asset Management S.A. bought a new position in Crane (NYSE:CR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 73,012 shares of the conglomerate's stock, valued at approximately $13,864,000. Assenagon Asset Management S.A. owned approximately 0.13% of Crane at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in shares of Crane by 104.8% during the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after buying an additional 131 shares during the last quarter. Westpac Banking Corp purchased a new stake in Crane during the first quarter worth $76,000. Fifth Third Bancorp lifted its holdings 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 purchasing an additional 136 shares during the last quarter. UMB Bank n.a. lifted its holdings 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 purchasing an additional 315 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Crane in the 1st quarter valued at $105,000. 75.14% of the stock is owned by institutional investors.

Crane Price Performance

Shares of NYSE:CR opened at $182.15 on Tuesday. Crane has a one year low of $127.04 and a one year high of $203.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a 50-day simple moving average of $189.22 and a 200-day simple moving average of $174.06. The stock 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.

Crane (NYSE:CR - Get Free Report) last issued its 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 net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $577.20 million for the quarter, compared to analyst estimates of $567.70 million. During the same period in the prior year, the business posted $1.20 earnings per share. 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. On average, analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.92 annualized dividend and a yield of 0.5%. Crane's payout ratio is 15.31%.

Insider Transactions at Crane

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the firm's stock in a transaction on Monday, August 25th. The shares were 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 of the company's stock, valued at $6,461,801.24. This trade represents a 38.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.12% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.

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