Crane $CR Shares Sold by Keeley Teton Advisors LLC

Key Points

• Keeley Teton Advisors LLC reduced its stake in Crane by 12.4% in Q1, holding 18,549 shares worth $2,841,000 after selling 2,615 shares.
• Analysts have increased their price targets for Crane, with Deutsche Bank raising its target from $187 to $226 and DA Davidson raising theirs from $200 to $230, both maintaining a "buy" rating.
• Crane recently announced a quarterly dividend of $0.23, with an ex-dividend date set for August 29, resulting in an annualized yield of 0.5%.

Keeley Teton Advisors LLC reduced its holdings in shares of Crane (NYSE:CR - Free Report) by 12.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,549 shares of the conglomerate's stock after selling 2,615 shares during the quarter. Keeley Teton Advisors LLC's holdings in Crane were worth $2,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CR. Nuveen LLC purchased a new position in Crane during the 1st quarter valued at about $75,254,000. Select Equity Group L.P. raised its stake in Crane by 25.2% in the 4th quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate's stock valued at $114,445,000 after purchasing an additional 151,717 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Crane by 23.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate's stock valued at $104,127,000 after purchasing an additional 130,218 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Crane in the 1st quarter valued at about $18,835,000. Finally, Bain Capital Public Equity Management II LLC raised its stake in Crane by 27.0% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 431,254 shares of the conglomerate's stock valued at $65,443,000 after purchasing an additional 91,631 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. UBS Group reissued 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. Stifel Nicolaus lifted their price target on Crane from $189.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Bank of America lifted their price target on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, DA Davidson lifted their price target on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $222.20.

Insiders Place Their Bets

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 stock was 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 owned 33,526 shares in the company, valued at $6,461,801.24. This represents a 38.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.12% of the stock is currently owned by corporate insiders.

Crane Trading Down 3.5%

Shares of NYSE:CR traded down $6.69 during trading on Friday, reaching $185.28. 425,252 shares of the stock were exchanged, 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. Crane has a 12-month low of $127.04 and a 12-month high of $203.89. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The firm's 50-day moving average price is $191.02 and its 200 day moving average price is $171.76.

Crane (NYSE:CR - Get Free Report) last issued its earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping 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 business had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 million. During the same quarter in the previous year, the business earned $1.20 EPS. The company's revenue for the quarter was up 9.2% on a year-over-year basis. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, sell-side analysts anticipate 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 will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date 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.