Raymond James Financial Inc. Buys 14,914 Shares of Crane $CR

Key Points

• Raymond James Financial Inc. increased its stake in Crane by 17.6%, now owning 99,856 shares valued at approximately $15.3 million.
• Multiple analysts have issued revised price targets for Crane, with UBS Group setting a new target of $230, reflecting a general consensus rating of "Moderate Buy".
• Crane recently reported an EPS of $1.49 for Q2, exceeding analysts' expectations, alongside a year-over-year revenue increase of 9.2%.

Raymond James Financial Inc. lifted its position in Crane (NYSE:CR - Free Report) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,856 shares of the conglomerate's stock after buying an additional 14,914 shares during the quarter. Raymond James Financial Inc. owned about 0.17% of Crane worth $15,296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in shares of Crane by 104.8% in the first 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 in the last quarter. Westpac Banking Corp bought a new position in shares of Crane in the first quarter valued at $76,000. Fifth Third Bancorp grew 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 buying an additional 136 shares in the last quarter. UMB Bank n.a. grew 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 buying an additional 315 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Crane in the first quarter valued at $105,000. 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 Crane stock in a transaction on Monday, August 25th. The stock was sold at an average price of $192.74, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.12% of the company's stock.

Crane Stock Performance

Shares of CR traded down $1.22 during midday trading on Wednesday, reaching $182.28. 12,402 shares of the stock were exchanged, compared to its average volume of 310,127. Crane has a twelve month low of $127.04 and a twelve month high of $203.89. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The company has a market cap of $10.49 billion, a P/E ratio of 24.14, a PEG ratio of 1.93 and a beta of 1.25. The stock's 50 day simple moving average is $191.03 and its 200 day simple moving average is $171.95.

Crane (NYSE:CR - Get Free Report) last posted its earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, topping 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 the consensus estimate of $567.70 million. During the same quarter last year, the firm earned $1.20 earnings per share. The company's revenue was up 9.2% on a year-over-year basis. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, sell-side analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group reissued a "buy" rating and issued a $230.00 target price (up from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a report 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 report on Wednesday, July 30th. DA Davidson raised their price target on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Bank of America raised their price target on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $222.20.

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.