Crane $CR Stock Position Raised by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. increased its stake in Crane by 14.8%, now holding 31,844 shares worth approximately $4.88 million.
• Crane reported strong quarterly earnings with $1.49 EPS, exceeding analysts' expectations, driven by a 9.2% revenue increase year-over-year.
• Multiple institutional investors raised their positions in Crane, with over 75% of the stock owned by institutional investors and hedge funds.

Clark Capital Management Group Inc. lifted its holdings in shares of Crane (NYSE:CR - Free Report) by 14.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,844 shares of the conglomerate's stock after acquiring an additional 4,103 shares during the quarter. Clark Capital Management Group Inc. owned about 0.06% of Crane worth $4,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CR. Cetera Investment Advisers increased its stake in Crane by 0.9% during the 4th quarter. Cetera Investment Advisers now owns 8,196 shares of the conglomerate's stock worth $1,244,000 after buying an additional 74 shares during the period. EP Wealth Advisors LLC boosted its stake in Crane by 3.1% during the 1st quarter. EP Wealth Advisors LLC now owns 2,445 shares of the conglomerate's stock valued at $375,000 after acquiring an additional 74 shares during the last quarter. NorthRock Partners LLC increased its position in shares of Crane by 4.2% in the 4th quarter. NorthRock Partners LLC now owns 1,954 shares of the conglomerate's stock worth $297,000 after purchasing an additional 79 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Crane by 4.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,037 shares of the conglomerate's stock worth $309,000 after purchasing an additional 90 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Crane by 0.5% in the first quarter. TD Asset Management Inc now owns 19,326 shares of the conglomerate's stock valued at $2,960,000 after buying an additional 92 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were 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 in the company, valued at $6,461,801.24. This represents a 38.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.12% of the company's stock.

Crane Trading Down 1.1%

NYSE CR traded down $2.11 on Tuesday, hitting $182.32. 437,059 shares of the stock were exchanged, compared to its average volume of 312,625. The company's 50-day moving average price is $190.70 and its two-hundred day moving average price is $172.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a 52-week low of $127.04 and a 52-week high of $203.89. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 1.93 and a beta of 1.25.

Crane (NYSE:CR - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $577.20 million for the quarter, compared to the consensus estimate of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.Crane's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CR shares. UBS Group reiterated a "buy" rating and issued a $230.00 price target (up from $215.00) on shares of Crane in a report on Wednesday, July 30th. DA Davidson boosted their price objective on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Bank of America upped their target price on shares of Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Stifel Nicolaus boosted their price target on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $222.20.

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.