2,214 Shares in Crane (NYSE:CR) Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC has acquired 2,214 shares of Crane Company stock, worth approximately $339,000, in the 1st quarter of 2023.
• Crane's recent earnings report showed an EPS of $1.49, exceeding analysts' expectations of $1.34, with a year-over-year revenue increase of 9.2%.
• The company announced a quarterly dividend of $0.23 per share, with a corresponding yield of 0.5%, to be paid to shareholders on September 10th.

HB Wealth Management LLC acquired a new stake in Crane (NYSE:CR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,214 shares of the conglomerate's stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CR. BNP Paribas Financial Markets acquired a new stake in shares of Crane in the fourth quarter worth approximately $5,532,000. Aviva PLC purchased a new stake in Crane in the fourth quarter valued at $538,000. Golden State Wealth Management LLC raised its position 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 purchasing an additional 131 shares during the period. Twelve Points Wealth Management LLC raised its holdings in shares of Crane by 19.6% in the 1st quarter. Twelve Points Wealth Management LLC now owns 11,405 shares of the conglomerate's stock valued at $1,747,000 after buying an additional 1,870 shares during the period. Finally, Alps Advisors Inc. raised its holdings in shares of Crane by 14.1% in the 1st quarter. Alps Advisors Inc. now owns 41,970 shares of the conglomerate's stock valued at $6,429,000 after buying an additional 5,197 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson boosted 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. Stifel Nicolaus upped their price objective on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. UBS Group reaffirmed a "buy" rating and set a $230.00 price objective (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $221.50.

Crane Stock Performance

CR traded down $0.66 on Tuesday, hitting $194.39. 59,194 shares of the company traded hands, compared to its average volume of 312,521. The company has a 50 day moving average of $185.43 and a 200-day moving average of $168.47. 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 stock has a market capitalization of $11.18 billion, a PE ratio of 25.75, a PEG ratio of 1.93 and a beta of 1.26. Crane has a 12-month low of $127.04 and a 12-month high of $203.89.

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 firm had revenue of $577.20 million during 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 firm's revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 EPS. Sell-side analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

Insider Activity

In related news, SVP Jason D. Feldman sold 1,300 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total value of $230,230.00. Following the sale, the senior vice president owned 9,796 shares in the company, valued at $1,734,871.60. This represents a 11.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.12% of the company's stock.

About Crane

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.