Fifth Third Bancorp Grows Stock Holdings in Crane $CR

Key Points

• Fifth Third Bancorp significantly increased its holdings in Crane by 379.1% during Q2, now owning 2,726 shares valued at $518,000.
• Various institutional investors, including Golden State Wealth Management and Westpac Banking Corp, also increased their stakes in Crane, leading to institutional ownership of 75.14% of the company.
• Analysts have raised price targets for Crane, with a consensus target of $222.20 and a consensus rating of "Moderate Buy."

Fifth Third Bancorp lifted its position in Crane (NYSE:CR - Free Report) by 379.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,726 shares of the conglomerate's stock after buying an additional 2,157 shares during the period. Fifth Third Bancorp's holdings in Crane were worth $518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its holdings in Crane by 104.8% in the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock worth $39,000 after purchasing an additional 131 shares during the last quarter. Westpac Banking Corp acquired a new stake in shares of Crane in the 1st quarter worth $76,000. Wayfinding Financial LLC acquired a new position in Crane during the 1st quarter valued at about $105,000. UMB Bank n.a. increased its position in Crane by 84.7% during the 1st quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock valued at $105,000 after buying an additional 315 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in Crane by 35.7% during the 1st quarter. Brooklyn Investment Group now owns 809 shares of the conglomerate's stock valued at $124,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the company's stock in a transaction dated 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 in the company, valued at $6,461,801.24. This represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.12% of the stock is owned by insiders.

Crane Stock Down 0.3%

Shares of CR opened at $181.41 on Tuesday. Crane has a 52 week low of $127.04 and a 52 week high of $203.89. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.93 and a beta of 1.25. The stock's 50-day moving average price is $188.50 and its 200-day moving average price is $175.00.

Crane (NYSE:CR - Get Free Report) last issued its earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping 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 the consensus estimate of $567.70 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company's revenue was up 9.2% compared to the same quarter last year. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, sell-side analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

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

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.