Gabelli Funds LLC Sells 11,050 Shares of Crane $CR

Key Points

• Gabelli Funds LLC reduced its stake in Crane by 1.4%, selling 11,050 shares and now holding 783,298 shares, which accounts for approximately 0.9% of its total holdings.
• Crane's stock received multiple price target upgrades from several analysts, with targets rising to as high as $230.00 and a consensus average target price of $222.20.
• The company recently reported an EPS of $1.49 for the last quarter, exceeding estimates and showing a revenue increase of 9.2% compared to the previous year.

Gabelli Funds LLC decreased its stake in shares of Crane (NYSE:CR - Free Report) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 783,298 shares of the conglomerate's stock after selling 11,050 shares during the period. Crane makes up 0.9% of Gabelli Funds LLC's investment portfolio, making the stock its 19th largest holding. Gabelli Funds LLC owned approximately 1.36% of Crane worth $119,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of CR. BNP Paribas Financial Markets bought a new stake in Crane during the fourth quarter worth about $5,532,000. Golden State Wealth Management LLC boosted its stake in Crane by 104.8% during the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock worth $39,000 after acquiring an additional 131 shares in the last quarter. Twelve Points Wealth Management LLC boosted its stake in Crane by 19.6% during the first quarter. Twelve Points Wealth Management LLC now owns 11,405 shares of the conglomerate's stock worth $1,747,000 after acquiring an additional 1,870 shares in the last quarter. HB Wealth Management LLC bought a new stake in Crane during the first quarter worth about $339,000. Finally, Pinnacle Wealth Management LLC purchased a new position in Crane in the first quarter worth about $655,000. Institutional investors own 75.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CR shares. Stifel Nicolaus lifted their target price on shares of Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Bank of America lifted their target price on shares of Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. UBS Group reaffirmed a "buy" rating and issued a $230.00 target price (up from $215.00) on shares of Crane in a report on Wednesday, July 30th. Finally, DA Davidson lifted their target price on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a report 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $222.20.

Insider Buying and Selling

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 33,526 shares of the company's stock, valued at approximately $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 accessible through the SEC website. Corporate insiders own 2.12% of the company's stock.

Crane Stock Performance

Shares of CR traded down $6.69 during mid-day trading on Friday, hitting $185.28. 425,252 shares of the company traded hands, compared to its average volume of 311,517. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock has a 50-day moving average price of $191.02 and a two-hundred day moving average price of $171.76. Crane has a 1 year low of $127.04 and a 1 year high of $203.89. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.93 and a beta of 1.26.

Crane (NYSE:CR - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.15. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 million. During the same period in the previous year, the company earned $1.20 earnings per share. The firm's quarterly revenue was up 9.2% on a year-over-year basis. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Equities analysts anticipate that Crane will post 7.87 earnings per share for the current 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Crane's dividend payout ratio 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.