MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 11,168 Shares of Crane $CR

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Crane by 2.9%, now holding 379,812 shares, worth approximately $58.18 million.
• Crane's recent earnings report showed $1.49 earnings per share (EPS), surpassing estimates, along with a 9.2% increase in quarterly revenue year-over-year.
• The company has announced a quarterly dividend of $0.23 per share, equating to a 0.5% yield, with the payment date set for September 10th.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in Crane (NYSE:CR - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 379,812 shares of the conglomerate's stock after selling 11,168 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.66% of Crane worth $58,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bain Capital Public Equity Management II LLC boosted its position in Crane by 117.3% in the 1st quarter. Bain Capital Public Equity Management II LLC now owns 937,237 shares of the conglomerate's stock worth $143,566,000 after purchasing an additional 505,983 shares in the last quarter. Nuveen LLC acquired a new stake in Crane during the first quarter valued at $75,254,000. Select Equity Group L.P. lifted its holdings 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Crane by 23.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate's stock worth $104,127,000 after acquiring an additional 130,218 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in shares of Crane in the first quarter valued at approximately $18,835,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Crane Stock Up 1.9%

NYSE:CR traded up $3.46 during trading hours on Thursday, hitting $186.18. The stock had a trading volume of 99,846 shares, compared to its average volume of 311,941. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 1-year low of $127.04 and a 1-year high of $203.89. The business has a 50 day simple moving average of $190.35 and a two-hundred day simple moving average of $172.46. The company has a market cap of $10.71 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.15. The firm had revenue of $577.20 million for the quarter, compared to analysts' expectations of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were issued 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 was Friday, August 29th. Crane's payout ratio is currently 15.31%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Crane news, VP Alejandro Alcala sold 20,791 shares of Crane 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 transaction, the vice president directly owned 33,526 shares of the company's stock, valued at $6,461,801.24. The trade was a 38.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.12% of the stock is currently owned by corporate insiders.

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.