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

Several other institutional investors and hedge funds have also bought and sold shares of CR. T. Rowe Price Investment Management Inc. grew its position in shares of Crane by 1.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 989,002 shares of the conglomerate's stock worth $151,496,000 after buying an additional 12,505 shares during the period. Bain Capital Public Equity Management II LLC boosted its stake in Crane by 117.3% during the first quarter. Bain Capital Public Equity Management II LLC now owns 937,237 shares of the conglomerate's stock worth $143,566,000 after acquiring an additional 505,983 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Crane by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 842,240 shares of the conglomerate's stock worth $129,011,000 after purchasing an additional 44,360 shares during the period. Neuberger Berman Group LLC grew its holdings in Crane by 0.4% in the first quarter. Neuberger Berman Group LLC now owns 776,038 shares of the conglomerate's stock worth $118,873,000 after purchasing an additional 3,282 shares during the period. Finally, Select Equity Group L.P. increased its stake in shares of Crane by 25.2% during the fourth 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. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Stock Performance

NYSE:CR traded down $2.11 during mid-day trading on Tuesday, reaching $182.32. The company's stock had a trading volume of 437,064 shares, compared to its average volume of 312,625. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The stock has a market cap of $10.49 billion, a P/E ratio of 24.15, a PEG ratio of 1.93 and a beta of 1.25. The firm's fifty day moving average price is $190.55 and its two-hundred day moving average price is $172.39. Crane has a 12-month low of $127.04 and a 12-month high of $203.89.

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

Crane Announces Dividend

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

Insider Buying and Selling at Crane

In related news, VP Alejandro Alcala sold 20,791 shares of the firm'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 transaction, the vice president owned 33,526 shares of the company's stock, valued at approximately $6,461,801.24. This trade represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CR has been the topic of a number of analyst reports. UBS Group reissued a "buy" rating and issued a $230.00 price target (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Bank of America lifted their price objective on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Deutsche Bank Aktiengesellschaft increased their target price on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Stifel Nicolaus lifted their price target on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, DA Davidson upped their price target on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Crane has a consensus rating of "Moderate Buy" and an average price target of $222.20.

About Crane

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.