Crane $CR Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Crane (NYSE:CR) by 15.0%, now holding 11,447 shares valued at approximately $2.17 million.
• Crane reported a strong financial performance with quarterly earnings of $1.49 per share, exceeding estimates and showing a 9.2% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.23 per share, representing an annualized dividend of $0.92 and a yield of 0.5%.

Allianz Asset Management GmbH lessened its position in Crane (NYSE:CR - Free Report) by 15.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,447 shares of the conglomerate's stock after selling 2,025 shares during the period. Allianz Asset Management GmbH's holdings in Crane were worth $2,174,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CR. Bain Capital Public Equity Management II LLC raised its position in shares of Crane by 117.3% in the first quarter. Bain Capital Public Equity Management II LLC now owns 937,237 shares of the conglomerate's stock valued at $143,566,000 after buying an additional 505,983 shares during the last quarter. Nuveen LLC purchased a new stake in Crane in the first quarter valued at approximately $75,254,000. Massachusetts Financial Services Co. MA grew its holdings in Crane by 23.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate's stock valued at $104,127,000 after purchasing an additional 130,218 shares during the period. Artemis Investment Management LLP purchased a new stake in Crane in the first quarter valued at approximately $18,835,000. Finally, Goldman Sachs Group Inc. grew its holdings in Crane by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 440,817 shares of the conglomerate's stock valued at $67,524,000 after purchasing an additional 84,278 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Activity at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the business's stock in a transaction on 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 transaction, the vice president directly owned 33,526 shares of the company's stock, valued at approximately $6,461,801.24. The trade was a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.12% of the company's stock.

Crane Price Performance

CR opened at $191.91 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a 52-week low of $127.04 and a 52-week high of $203.89. The company has a 50 day moving average of $184.48 and a two-hundred day moving average of $178.85. The company has a market cap of $11.04 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.93 and a beta of 1.22.

Crane (NYSE:CR - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.15. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $577.20 million during the quarter, compared to the consensus estimate of $567.70 million. During the same period in the previous year, the firm earned $1.20 earnings per share. Crane'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. On average, analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CR shares. Weiss Ratings restated a "hold (c+)" rating on shares of Crane in a report on Friday. Stifel Nicolaus boosted their target price on shares of Crane from $189.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. UBS Group restated a "buy" rating and issued a $230.00 target price (up from $215.00) on shares of Crane in a report on Wednesday, July 30th. Bank of America boosted their target price on shares of Crane from $220.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, DA Davidson boosted their target price on shares of Crane from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Crane currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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