Crane $CR Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Crane (NYSE: CR) by 45.0%, selling 8,702 shares and holding 10,624 shares valued at $2,017,000 after the sale.
• Various hedge funds, including T. Rowe Price and Bain Capital, have increased their holdings in Crane, with Bain Capital boosting its position by 117.3%.
• Crane reported a quarterly earnings of $1.49 EPS, exceeding expectations, with a revenue of $577.20 million, an increase of 9.2% year-over-year.

TD Asset Management Inc lowered its position in shares of Crane (NYSE:CR - Free Report) by 45.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,624 shares of the conglomerate's stock after selling 8,702 shares during the quarter. TD Asset Management Inc's holdings in Crane were worth $2,017,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Crane by 1.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 989,002 shares of the conglomerate's stock valued at $151,496,000 after purchasing an additional 12,505 shares during the last quarter. Bain Capital Public Equity Management II LLC boosted its holdings in shares of Crane by 117.3% in the 1st quarter. Bain Capital Public Equity Management II LLC now owns 937,237 shares of the conglomerate's stock valued at $143,566,000 after purchasing an additional 505,983 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Crane by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 842,240 shares of the conglomerate's stock valued at $129,011,000 after purchasing an additional 44,360 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Crane by 0.4% in the 1st quarter. Neuberger Berman Group LLC now owns 776,038 shares of the conglomerate's stock valued at $118,873,000 after purchasing an additional 3,282 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Crane by 23.7% in the 1st 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 last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Transactions at Crane

In related news, VP Alejandro Alcala sold 20,791 shares of Crane 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 sale, the vice president owned 33,526 shares of the company's stock, valued at $6,461,801.24. The trade was a 38.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.12% of the stock is owned by company insiders.

Analyst Ratings Changes

CR has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of Crane from $220.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, August 21st. UBS Group reiterated a "buy" rating and issued a $230.00 price target (up previously from $215.00) on shares of Crane in a report on Wednesday, July 30th. DA Davidson lifted their price target on shares of Crane from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Weiss Ratings reissued a "hold (c+)" rating on shares of Crane in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus raised their target price 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. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Crane has a consensus rating of "Moderate Buy" and a consensus target price of $222.20.

Crane Stock Performance

Shares of CR stock opened at $189.17 on Wednesday. The company's fifty day simple moving average is $184.66 and its 200-day simple moving average is $177.97. Crane has a 52 week low of $127.04 and a 52 week high of $203.89. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The company has a market cap of $10.89 billion, a PE ratio of 25.06, a P/E/G ratio of 1.93 and a beta of 1.22.

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

Crane Announces Dividend

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

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