Axiom Investors LLC DE Has $13.07 Million Holdings in Crane $CR

Key Points

• Axiom Investors LLC DE has reduced its stake in Crane by 31.1%, now owning approximately 85,333 shares valued at $13.07 million as per the latest SEC filing.
• Several institutional investors have shown increased interest in Crane, with Golden State Wealth Management LLC raising its position by 104.8% this quarter.
• Analysts are bullish on Crane, with multiple firms raising their price targets, resulting in an average consensus price target of $222.20 and a majority rating it as a "Moderate Buy."

Axiom Investors LLC DE lessened its stake in Crane (NYSE:CR - Free Report) by 31.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,333 shares of the conglomerate's stock after selling 38,431 shares during the quarter. Axiom Investors LLC DE owned about 0.15% of Crane worth $13,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CR. Golden State Wealth Management LLC increased its position in Crane by 104.8% in the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after acquiring an additional 131 shares in the last quarter. Westpac Banking Corp acquired a new stake in shares of Crane during the 1st quarter worth approximately $76,000. Fifth Third Bancorp grew its position in shares of Crane by 31.4% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock worth $87,000 after buying an additional 136 shares during the period. UMB Bank n.a. grew its position in shares of Crane by 84.7% during the 1st quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock worth $105,000 after buying an additional 315 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Crane during the 1st quarter worth approximately $105,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. DA Davidson lifted their price objective on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Bank of America lifted their price objective 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. UBS Group reaffirmed a "buy" rating and issued a $230.00 price target (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus lifted their price target on shares of Crane from $189.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $222.20.

Insider Activity at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $192.74, for a total value of $4,007,257.34. Following the sale, the vice president owned 33,526 shares of the company's stock, valued at $6,461,801.24. The trade was a 38.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.12% of the stock is currently owned by corporate insiders.

Crane Stock Performance

Shares of CR opened at $184.03 on Monday. The firm's 50 day moving average price is $190.82 and its two-hundred day moving average price is $172.19. 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 firm has a market cap of $10.59 billion, a P/E ratio of 24.38, a PEG ratio of 1.93 and a beta of 1.25. Crane has a twelve month low of $127.04 and a twelve month high of $203.89.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.15. The business had revenue of $577.20 million for 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 firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a $0.23 dividend. 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 payout ratio is currently 15.31%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.