Axiom Investors LLC DE Sells 38,431 Shares of 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 cut its holdings in Crane (NYSE:CR - Free Report) by 31.1% during the first quarter, according to the company in 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 period. Axiom Investors LLC DE owned 0.15% of Crane worth $13,071,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CR. Golden State Wealth Management LLC lifted its holdings in Crane by 104.8% in the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock worth $39,000 after purchasing an additional 131 shares in the last quarter. Westpac Banking Corp purchased a new stake in shares of Crane during the 1st quarter worth approximately $76,000. Fifth Third Bancorp raised 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 worth $87,000 after acquiring an additional 136 shares in the last quarter. UMB Bank n.a. raised 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 worth $105,000 after acquiring an additional 315 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Crane during the 1st quarter worth approximately $105,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Crane Trading Down 1.7%

NYSE:CR traded down $3.20 during midday trading on Friday, hitting $183.19. 181,600 shares of the company traded hands, compared to its average volume of 312,807. The firm's fifty day moving average is $190.02 and its 200-day moving average is $172.78. The firm has a market capitalization of $10.54 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.93 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 12-month low of $127.04 and a 12-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, beating the consensus estimate of $1.34 by $0.15. The company had revenue of $577.20 million for the quarter, compared to the consensus estimate of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.Crane's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, sell-side analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

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

Insider Buying and Selling

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $192.74, for a total value of $4,007,257.34. Following the transaction, the vice president owned 33,526 shares of the company's stock, valued at $6,461,801.24. This represents a 38.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.12% of the stock is owned by company insiders.

About Crane

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.