HB Wealth Management LLC Makes New $339,000 Investment in Crane (NYSE:CR)

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 bought a new position in Crane (NYSE:CR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,214 shares of the conglomerate's stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of Crane during the fourth quarter valued at $5,532,000. Aviva PLC purchased a new position in shares of Crane during the fourth quarter valued at $538,000. Golden State Wealth Management LLC increased its stake in shares of Crane by 104.8% during the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after buying an additional 131 shares during the period. Twelve Points Wealth Management LLC increased its stake in shares of Crane by 19.6% during the first 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. increased its stake in shares of Crane by 14.1% during the first 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. Hedge funds and other institutional investors own 75.14% of the company's stock.

Crane Trading Up 0.8%

Shares of NYSE CR traded up $1.61 during mid-day trading on Monday, reaching $195.10. 68,140 shares of the company's stock were exchanged, compared to its average volume of 313,436. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 52-week low of $127.04 and a 52-week high of $203.89. The company's 50-day moving average is $184.93 and its 200-day moving average is $168.19.

Crane (NYSE:CR - Get Free Report) last announced 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 return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 million. During the same period last year, the business posted $1.20 EPS. Crane's revenue for the quarter was up 9.2% on a year-over-year basis. Analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

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 given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Crane's dividend payout ratio (DPR) is 15.31%.

Analyst Ratings Changes

CR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. UBS Group reiterated a "buy" rating and issued a $230.00 target price (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. DA Davidson raised their price target on Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Stifel Nicolaus raised their price target on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $221.50.

Insider Buying and Selling at Crane

In other Crane news, SVP Jason D. Feldman sold 1,300 shares of Crane 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 transaction, the senior vice president directly owned 9,796 shares in the company, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.12% of the company's stock.

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.