Crane $CR Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC significantly reduced its shares in Crane by 73.0% in the first quarter, owning just 1,442 shares valued at $221,000 after selling 3,889 shares.
• Crane reported strong financial results, with a 9.2% increase in revenue year-over-year, and earnings per share (EPS) of $1.49, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.23 per share, marking an annualized dividend yield of 0.5%, with the ex-dividend date set for August 29th.

Hsbc Holdings PLC reduced its stake in Crane (NYSE:CR - Free Report) by 73.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,442 shares of the conglomerate's stock after selling 3,889 shares during the period. Hsbc Holdings PLC's holdings in Crane were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CR. Golden State Wealth Management LLC raised its stake in shares of 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 in the last quarter. Westpac Banking Corp acquired a new stake in shares of Crane in the first quarter valued at $76,000. Fifth Third Bancorp raised its stake in shares of 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 in the last quarter. UMB Bank n.a. raised its stake in shares of 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 in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Crane in the first quarter valued at $105,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Performance

NYSE:CR traded up $3.74 during mid-day trading on Thursday, reaching $186.46. The stock had a trading volume of 368,307 shares, compared to its average volume of 313,406. 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 firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.93 and a beta of 1.25. Crane has a twelve month low of $127.04 and a twelve month high of $203.89. The business has a 50 day simple moving average of $190.22 and a 200 day simple moving average of $172.63.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, beating analysts' consensus estimates 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 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 quarter last year, the firm earned $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were given 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 was Friday, August 29th. Crane's dividend payout ratio (DPR) is presently 15.31%.

Insider Activity

In other news, VP Alejandro Alcala sold 20,791 shares of Crane 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 in the company, valued at approximately $6,461,801.24. This trade represents a 38.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CR shares. Bank of America increased their target price on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, August 21st. UBS Group reissued a "buy" rating and issued a $230.00 target price (up previously from $215.00) on shares of Crane in a report on Wednesday, July 30th. DA Davidson increased their target price on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased 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. Finally, Stifel Nicolaus increased their target price on Crane from $189.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Crane currently has an average rating of "Moderate Buy" and a consensus price target of $222.20.

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.