Bank of New York Mellon Corp Reduces Stock Holdings in Crane $CR

Key Points

• Bank of New York Mellon cut its stake in Crane by 9.2% in the fourth quarter, selling 36,127 shares and ending with 357,853 shares valued at about $66 million.
• Crane beat quarterly earnings and revenue expectations, reporting $1.65 EPS versus $1.44 expected and $696.4 million in revenue, with revenue up 24.9% year over year.
• The company also announced a quarterly dividend of $0.255 per share, while analysts remain broadly positive with an average Buy rating and a $226.33 price target.

Bank of New York Mellon Corp lowered its holdings in Crane (NYSE:CR - Free Report) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 357,853 shares of the conglomerate's stock after selling 36,127 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Crane worth $65,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL boosted its stake in Crane by 314.8% during the third quarter. Tudor Investment Corp ET AL now owns 74,801 shares of the conglomerate's stock worth $13,774,000 after buying an additional 56,768 shares during the period. JPMorgan Chase & Co. boosted its stake in Crane by 44.2% during the third quarter. JPMorgan Chase & Co. now owns 183,787 shares of the conglomerate's stock worth $33,843,000 after buying an additional 56,324 shares during the period. Hudson Bay Capital Management LP purchased a new position in Crane during the third quarter worth about $3,709,000. Citigroup Inc. boosted its stake in Crane by 23.0% during the third quarter. Citigroup Inc. now owns 33,480 shares of the conglomerate's stock worth $6,165,000 after buying an additional 6,258 shares during the period. Finally, Sandhill Capital Partners LLC boosted its stake in Crane by 56.2% during the third quarter. Sandhill Capital Partners LLC now owns 95,368 shares of the conglomerate's stock worth $17,561,000 after buying an additional 34,296 shares during the period. Hedge funds and other institutional investors own 75.14% of the company's stock.

Crane Trading Up 4.2%

NYSE CR opened at $200.87 on Wednesday. The firm has a 50 day simple moving average of $181.01 and a 200-day simple moving average of $187.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a one year low of $159.58 and a one year high of $214.31. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.93 and a beta of 1.12.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The conglomerate reported $1.65 EPS for the quarter, beating the consensus estimate of $1.44 by $0.21. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $696.40 million during the quarter, compared to analyst estimates of $672.74 million. During the same quarter last year, the firm posted $1.39 earnings per share. The business's revenue for the quarter was up 24.9% compared to the same quarter last year. Crane has set its FY 2026 guidance at 6.650-6.850 EPS. Equities research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 29th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.02 annualized dividend and a yield of 0.5%. Crane's dividend payout ratio (DPR) is 18.35%.

Insiders Place Their Bets

In other news, Director Susan D. Lynch bought 150 shares of Crane stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average price of $177.38 per share, with a total value of $26,607.00. Following the completion of the acquisition, the director directly owned 370 shares in the company, valued at $65,630.60. The trade was a 68.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CR shares. Weiss Ratings lowered shares of Crane from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 4th. Stifel Nicolaus raised shares of Crane from a "hold" rating to a "buy" rating and increased their target price for the stock from $200.00 to $215.00 in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Crane from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, DA Davidson reaffirmed a "buy" rating and set a $235.00 target price on shares of Crane in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Crane currently has an average rating of "Buy" and an average price target of $226.33.

Crane Profile

Crane Co, headquartered in Stamford, Connecticut, is a diversified manufacturer of engineered industrial products serving customers around the world. The company operates through two primary segments: Aerospace & Electronics and Engineered Materials. Its Aerospace & Electronics division designs and produces valves, fittings, manifolds, and filtration systems for aircraft fuel, hydraulics, and environmental control systems. The Engineered Materials segment focuses on advanced polymers, heat exchangers, and specialized composite solutions for industries including chemical processing, semiconductor manufacturing, and power generation.

With roots dating back to its founding in 1855 in Chicago by R.T.

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