Avalon Global Asset Management LLC Invests $6.89 Million in Crane $CR

Key Points

• Avalon Global Asset Management LLC invested approximately $6.89 million in Crane by purchasing 45,000 shares, making it the fund's 23rd largest position.
• Crane recently reported earnings of $1.49 per share, exceeding analyst expectations, and announced a quarterly dividend of $0.23 per share, yielding approximately 0.5%.
• Several analysts have upgraded their price targets for Crane, with the consensus rating being a "Moderate Buy" and an average price target of $222.20.

Avalon Global Asset Management LLC acquired a new position in shares of Crane (NYSE:CR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 45,000 shares of the conglomerate's stock, valued at approximately $6,893,000. Crane comprises approximately 1.0% of Avalon Global Asset Management LLC's investment portfolio, making the stock its 23rd largest position. Avalon Global Asset Management LLC owned about 0.08% of Crane at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. grew its holdings in Crane by 1.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 989,002 shares of the conglomerate's stock valued at $151,496,000 after purchasing an additional 12,505 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Crane by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 842,240 shares of the conglomerate's stock worth $129,011,000 after purchasing an additional 44,360 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Crane by 0.4% in the first quarter. Neuberger Berman Group LLC now owns 776,038 shares of the conglomerate's stock worth $118,873,000 after acquiring an additional 3,282 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Crane by 25.2% in the fourth quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate's stock worth $114,445,000 after acquiring an additional 151,717 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Crane by 23.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate's stock valued at $104,127,000 after purchasing an additional 130,218 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CR shares. 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. Stifel Nicolaus raised their price target on Crane from $189.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Bank of America raised their target price on shares of Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Deutsche Bank Aktiengesellschaft increased their target price 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. Finally, DA Davidson upped their price target on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $222.20.

Insiders Place Their Bets

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the stock in a transaction 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 transaction, the vice president owned 33,526 shares in the company, valued at $6,461,801.24. This trade represents a 38.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.12% of the company's stock.

Crane Price Performance

CR traded down $6.69 during midday trading on Friday, reaching $185.28. 425,252 shares of the company's stock were exchanged, compared to its average volume of 311,517. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $190.88 and a two-hundred day simple moving average of $171.65. Crane has a one year low of $127.04 and a one year high of $203.89. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth 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. The company had revenue of $577.20 million during the quarter, compared to analyst estimates of $567.70 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company's revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

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

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.