Cubist Systematic Strategies LLC Sells 5,234 Shares of Crane $CR

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Crane by 14.1%, selling 5,234 shares, and now owns approximately $4.87 million worth of the stock.
• Crane reported a $1.49 EPS for the last quarter, surpassing estimates, with a revenue of $577.20 million, marking a 9.2% increase year-over-year.
• The company announced a quarterly dividend of $0.23 per share, indicating an annual yield of 0.5%, with a payout ratio of 15.31%.

Cubist Systematic Strategies LLC cut its holdings in Crane (NYSE:CR - Free Report) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,784 shares of the conglomerate's stock after selling 5,234 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.06% of Crane worth $4,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its stake in 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 acquiring an additional 131 shares during the last quarter. Westpac Banking Corp bought a new position in Crane in the first quarter valued at approximately $76,000. Fifth Third Bancorp boosted its stake in 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 acquiring an additional 136 shares during the last quarter. UMB Bank n.a. boosted its stake in 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 acquiring an additional 315 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in Crane in the first quarter valued at approximately $105,000. 75.14% of the stock is owned by institutional investors.

Crane Trading Down 0.6%

CR opened at $182.38 on Thursday. The stock has a market capitalization of $10.50 billion, a P/E ratio of 24.16, a P/E/G 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 firm's fifty day simple moving average is $190.97 and its 200 day simple moving average is $172.02. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, beating the consensus estimate of $1.34 by $0.15. The business had revenue of $577.20 million for the quarter, compared to analysts' expectations of $567.70 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm's revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Crane's payout ratio is currently 15.31%.

Insider Buying and Selling

In related 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 value of $4,007,257.34. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.12% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CR. Stifel Nicolaus raised 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 set a $230.00 price target (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. DA Davidson lifted their price target on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Bank of America lifted their price target on shares of Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a research 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. According to MarketBeat.com, the company 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.

Want to see what other hedge funds are holding CR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crane (NYSE:CR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.