Crane $CR Position Decreased by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL has reduced its holdings in Crane by 1.8%, making it the firm's 3rd largest position with 1,168,104 shares valued at approximately $178.93 million.
• Crane's earnings per share (EPS) for the latest quarter was reported at $1.49, surpassing estimates, and its revenue grew by 9.2% year-over-year.
• The company recently announced a $0.23 quarterly dividend with a payout ratio of 15.31%, reflecting its commitment to returning value to shareholders.

Gamco Investors INC. ET AL cut its holdings in Crane (NYSE:CR - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,168,104 shares of the conglomerate's stock after selling 21,417 shares during the period. Crane makes up approximately 2.0% of Gamco Investors INC. ET AL's portfolio, making the stock its 3rd biggest position. Gamco Investors INC. ET AL owned approximately 2.03% of Crane worth $178,930,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Avalon Global Asset Management LLC bought a new position in shares of Crane in the 1st quarter worth about $6,893,000. Synovus Financial Corp raised its position in shares of Crane by 16.5% in the 1st quarter. Synovus Financial Corp now owns 10,572 shares of the conglomerate's stock worth $1,619,000 after acquiring an additional 1,500 shares in the last quarter. Walleye Capital LLC increased its position in Crane by 14.7% in the 1st quarter. Walleye Capital LLC now owns 116,055 shares of the conglomerate's stock valued at $17,777,000 after buying an additional 14,832 shares in the last quarter. Jump Financial LLC increased its position in Crane by 31.8% in the 1st quarter. Jump Financial LLC now owns 27,622 shares of the conglomerate's stock valued at $4,231,000 after buying an additional 6,664 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Crane by 4.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,432 shares of the conglomerate's stock valued at $373,000 after buying an additional 95 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the business's stock in a transaction that occurred 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 in the company, valued at $6,461,801.24. The trade was a 38.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CR shares. Bank of America boosted their target price on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. DA Davidson boosted their target price on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Stifel Nicolaus boosted their target price on Crane from $189.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, UBS Group reissued a "buy" rating and set a $230.00 price objective (up from $215.00) on shares of Crane 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 company's stock. According to MarketBeat.com, Crane has an average rating of "Moderate Buy" and an average price target of $222.20.

Crane Stock Down 3.5%

CR traded down $6.69 during midday trading on Friday, reaching $185.28. 425,252 shares of the company were exchanged, compared to its average volume of 311,517. 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 company's fifty day moving average price is $191.02 and its 200 day moving average price is $171.76. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. Crane has a one year low of $127.04 and a one year high of $203.89.

Crane (NYSE:CR - Get Free Report) last issued 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 firm had revenue of $577.20 million during the quarter, compared to analyst estimates of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.The company's revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, analysts expect that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid 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 is Friday, August 29th. Crane's payout ratio is presently 15.31%.

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.