Axiom Investors LLC DE Cuts Holdings in Crane $CR

Key Points

• Axiom Investors LLC DE has reduced its stake in Crane by 31.1%, now holding 85,333 shares valued at approximately $13.07 million.
• Crane reported earnings per share of $1.49 for the last quarter, exceeding the consensus estimate of $1.34, with revenues of $577.20 million.
• The company announced a quarterly dividend of $0.23 per share, with a dividend yield of 0.5%, to be paid on September 10th.

Axiom Investors LLC DE trimmed its stake in Crane (NYSE:CR - Free Report) by 31.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC increased its stake in shares of 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 Crane in the 1st quarter worth $76,000. Fifth Third Bancorp increased its stake in Crane by 31.4% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock worth $87,000 after buying an additional 136 shares in the last quarter. UMB Bank n.a. increased its stake in Crane by 84.7% in 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 in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Crane in the 1st quarter worth $105,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Crane Trading Down 1.0%

Shares of NYSE:CR traded down $2.00 during trading on Thursday, reaching $191.79. The company's stock had a trading volume of 362,451 shares, compared to its average volume of 310,710. 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. The firm's 50 day simple moving average is $190.61 and its two-hundred day simple moving average is $171.53. The stock has a market capitalization of $11.04 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.15. The business had revenue of $577.20 million during the quarter, compared to the consensus estimate of $567.70 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, research analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. Crane's dividend payout ratio (DPR) is 15.31%.

Insider Activity at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president directly owned 33,526 shares of the company's stock, valued at approximately $6,461,801.24. This trade represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.12% of the company's stock.

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.