Crane $CR Shares Bought by Credit Agricole S A

Key Points

• Credit Agricole S A has increased its position in Crane by 45.5%, now owning 14,487 shares valued at approximately $2.2 million.
• Crane reported $1.49 earnings per share, exceeding the expected $1.34, with a revenue of $577.20 million for the latest quarter.
• The company announced a quarterly dividend of $0.23 per share, with a dividend yield of 0.5% scheduled for payment on September 10th.

Credit Agricole S A grew its position in shares of Crane (NYSE:CR - Free Report) by 45.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,487 shares of the conglomerate's stock after purchasing an additional 4,529 shares during the period. Credit Agricole S A's holdings in Crane were worth $2,219,000 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 stake in Crane by 104.8% during the first 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 acquired a new stake in shares of Crane in the first quarter valued at $76,000. Fifth Third Bancorp raised its stake in shares of Crane by 31.4% in the first quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock valued at $87,000 after acquiring an additional 136 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Crane by 84.7% in the first quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock valued at $105,000 after acquiring an additional 315 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Crane in the first quarter valued at $105,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Alejandro Alcala sold 20,791 shares of the stock in a transaction dated 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 sale, the vice president owned 33,526 shares in the company, valued at $6,461,801.24. This represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Crane Stock Down 1.1%

NYSE:CR traded down $2.11 on Thursday, reaching $191.68. The stock had a trading volume of 239,061 shares, compared to its average volume of 310,023. The stock has a market cap of $11.03 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The company has a 50-day moving average of $190.61 and a 200 day moving average of $171.53. 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 released its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.15. The firm had revenue of $577.20 million for the quarter, compared to analyst estimates of $567.70 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business 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 earnings per share for the current year.

Crane Dividend Announcement

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