Comerica Bank Has $3.27 Million Stake in Crane $CR

Key Points

• Comerica Bank has reduced its holdings in Crane by 6.0%, owning 21,372 shares valued at $3.27 million after selling 1,360 shares.
• Analysts have recently upgraded their price targets for Crane, with estimates reaching as high as $230.00, reflecting a general sentiment of a "Moderate Buy" with an average price target of $222.20.
• Crane will pay a quarterly dividend of $0.23 per share on September 10th, representing an annualized yield of 0.5%.

Comerica Bank cut its stake in shares of Crane (NYSE:CR - Free Report) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,372 shares of the conglomerate's stock after selling 1,360 shares during the period. Comerica Bank's holdings in Crane were worth $3,274,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CR. Hsbc Holdings PLC boosted its position in Crane by 258.3% during the fourth quarter. Hsbc Holdings PLC now owns 5,331 shares of the conglomerate's stock valued at $814,000 after purchasing an additional 3,843 shares during the last quarter. Northern Trust Corp raised its stake in Crane by 20.9% in the fourth quarter. Northern Trust Corp now owns 460,392 shares of the conglomerate's stock valued at $69,864,000 after buying an additional 79,481 shares during the period. Mercer Global Advisors Inc. ADV raised 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 valued at $309,000 after buying an additional 90 shares during the period. Algert Global LLC raised its stake in Crane by 45.5% in the fourth quarter. Algert Global LLC now owns 14,087 shares of the conglomerate's stock valued at $2,138,000 after buying an additional 4,408 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Crane in the fourth quarter valued at approximately $5,532,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on CR shares. Deutsche Bank Aktiengesellschaft upped 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. Bank of America increased their target price on Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Stifel Nicolaus increased their target price on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. DA Davidson increased their target price on Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, UBS Group reiterated a "buy" rating and set a $230.00 target price (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.20.

Insider Buying and Selling at Crane

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $192.74, for a total value of $4,007,257.34. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.12% of the company's stock.

Crane Price Performance

Crane stock traded up $2.08 during mid-day trading on Thursday, reaching $184.64. 118,153 shares of the company were exchanged, compared to its average volume of 310,633. The company has a fifty day simple moving average of $190.97 and a 200-day simple moving average of $172.02. The firm has a market cap of $10.63 billion, a PE ratio of 24.44, a PEG ratio of 1.93 and a beta of 1.25. Crane has a 12 month low of $127.04 and a 12 month high of $203.89. 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 (NYSE:CR - Get Free Report) last issued its 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 firm 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%.The company's revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, equities research analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a $0.23 dividend. 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 currently 15.31%.

Crane Company 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.