Hsbc Holdings PLC Sells 3,889 Shares of Crane $CR

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 cut its position in shares of Crane (NYSE:CR - Free Report) by 73.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in shares of Crane by 104.8% during the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock worth $39,000 after buying an additional 131 shares during the period. Westpac Banking Corp bought a new stake in shares of Crane during the 1st quarter worth about $76,000. Fifth Third Bancorp boosted its holdings in shares of Crane by 31.4% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock worth $87,000 after buying an additional 136 shares during the period. UMB Bank n.a. boosted its holdings in shares of Crane by 84.7% during the 1st quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock worth $105,000 after buying an additional 315 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in shares of Crane during the 1st quarter worth about $105,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented 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. 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. 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. Finally, UBS Group reissued a "buy" rating and issued a $230.00 price objective (up previously from $215.00) on shares of Crane 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.20.

Crane Price Performance

Shares of NYSE:CR traded down $0.17 during midday trading on Monday, hitting $184.10. The stock had a trading volume of 386,767 shares, compared to its average volume of 311,894. The company's 50-day moving average price is $190.70 and its 200-day moving average price is $172.32. The company has a market capitalization of $10.59 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a fifty-two week low of $127.04 and a fifty-two week high of $203.89.

Crane (NYSE:CR - Get Free Report) last issued its earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, beating the consensus estimate of $1.34 by $0.15. The company had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, equities research analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The company 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 $0.23 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 0.5%. Crane's payout ratio is presently 15.31%.

Insider Activity at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the business'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 value of $4,007,257.34. Following the completion of the transaction, the vice president directly owned 33,526 shares in the company, valued at approximately $6,461,801.24. The trade was a 38.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.