Brant Point Investment Management LLC Sells 2,292 Shares of Crane $CR

Key Points

• Brant Point Investment Management LLC reduced its stake in Crane by 6.6%, now holding 32,647 shares, which constitutes 0.6% of its investment portfolio.
• Several large investors, including Golden State Wealth Management LLC and Fifth Third Bancorp, have increased their holdings in Crane during the first quarter.
• Crane announced a quarterly dividend of $0.23 per share, with an annualized dividend yield of 0.5%, set to be paid on September 10th.

Brant Point Investment Management LLC lessened its holdings in Crane (NYSE:CR - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,647 shares of the conglomerate's stock after selling 2,292 shares during the quarter. Crane accounts for 0.6% of Brant Point Investment Management LLC's investment portfolio, making the stock its 25th largest position. Brant Point Investment Management LLC owned approximately 0.06% of Crane worth $5,001,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CR. Golden State Wealth Management LLC lifted its position in shares of Crane by 104.8% during the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after buying an additional 131 shares during the last quarter. Westpac Banking Corp bought a new position in shares of Crane during the 1st quarter valued at about $76,000. Fifth Third Bancorp boosted its holdings in Crane by 31.4% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock valued at $87,000 after acquiring an additional 136 shares during the period. UMB Bank n.a. boosted its holdings in Crane by 84.7% during the 1st quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock valued at $105,000 after acquiring an additional 315 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Crane during the 1st quarter valued at about $105,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CR. Bank of America increased 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. DA Davidson increased their target price on Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Stifel Nicolaus increased their target price on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, UBS Group reissued a "buy" rating and issued a $230.00 target price (up previously from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Four equities 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, Crane presently has a consensus 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 Crane 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 completion of the sale, the vice president 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.12% of the stock is currently owned by company insiders.

Crane Stock Down 3.5%

CR stock traded down $6.69 on Monday, reaching $185.28. 425,252 shares of the company traded hands, compared to its average volume of 311,517. Crane has a one year low of $127.04 and a one year high of $203.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The company has a market cap of $10.66 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The firm has a fifty day simple moving average of $191.02 and a 200-day simple moving average of $171.78.

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, beating analysts' consensus estimates of $1.34 by $0.15. Crane had a return on equity of 24.45% and a net margin of 13.10%.The company had revenue of $577.20 million during the quarter, compared to analyst estimates of $567.70 million. During the same quarter last year, the company earned $1.20 EPS. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Research analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

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.