Channing Capital Management LLC Sells 2,900 Shares of Crane $CR

Key Points

• Channing Capital Management LLC has reduced its stake in Crane by 4% during the first quarter, now owning approximately 70,273 shares valued at $10.76 million.
• Crane reported strong earnings for the last quarter with an EPS of $1.49, beating estimates and reflecting a 9.2% year-over-year revenue increase to $577.2 million.
• The company has announced a quarterly dividend of $0.23 per share, which will yield an annualized rate of 0.5%, with a current dividend payout ratio of 15.31%.

Channing Capital Management LLC decreased its stake in shares of Crane (NYSE:CR - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,273 shares of the conglomerate's stock after selling 2,900 shares during the quarter. Channing Capital Management LLC owned about 0.12% of Crane worth $10,764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cetera Investment Advisers grew its holdings in Crane by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 8,196 shares of the conglomerate's stock valued at $1,244,000 after buying an additional 74 shares in the last quarter. NorthRock Partners LLC lifted its position in shares of Crane by 4.2% during the 4th quarter. NorthRock Partners LLC now owns 1,954 shares of the conglomerate's stock valued at $297,000 after acquiring an additional 79 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Crane by 4.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,037 shares of the conglomerate's stock valued at $309,000 after acquiring an additional 90 shares during the period. TD Asset Management Inc lifted its position in shares of Crane by 0.5% during the 1st quarter. TD Asset Management Inc now owns 19,326 shares of the conglomerate's stock valued at $2,960,000 after acquiring an additional 92 shares during the period. Finally, Intrust Bank NA lifted its position in shares of Crane by 2.7% during the 1st quarter. Intrust Bank NA now owns 3,686 shares of the conglomerate's stock valued at $565,000 after acquiring an additional 98 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Crane Trading Down 1.0%

Crane stock traded down $1.9930 during trading hours on Monday, hitting $192.2370. The stock had a trading volume of 272,878 shares, compared to its average volume of 310,328. The business's 50 day simple moving average is $189.76 and its 200-day simple moving average is $171.06. Crane has a one year low of $127.04 and a one year high of $203.89. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.93 and a beta of 1.26. 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 (NYSE:CR - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, beating 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 firm had revenue of $577.20 million for the quarter, compared to analyst estimates of $567.70 million. During the same period last year, the firm posted $1.20 earnings per share. The business'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, equities analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently weighed in on CR. Deutsche Bank Aktiengesellschaft upped 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. Stifel Nicolaus lifted their price objective on shares of Crane from $189.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. UBS Group reissued a "buy" rating and issued a $230.00 price objective (up from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Bank of America lifted their price objective on shares of Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday. Finally, DA Davidson lifted their price objective on shares of Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average 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.