Mutual of America Capital Management LLC Lowers Stock Position in Crane $CR

Key Points

• Mutual of America Capital Management LLC reduced its stake in Crane by 4.6% during the 2nd quarter, now holding 51,688 shares worth approximately $9.8 million.
• Crane's recent earnings report showed an EPS of $1.49, surpassing expectations of $1.34, with revenue increasing by 9.2% year-over-year.
• The company's quarterly dividend was set at $0.23 per share, translating to an annualized yield of 0.5%.

Mutual of America Capital Management LLC cut its stake in shares of Crane (NYSE:CR - Free Report) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,688 shares of the conglomerate's stock after selling 2,474 shares during the period. Mutual of America Capital Management LLC owned 0.09% of Crane worth $9,815,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its stake 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 valued at $39,000 after buying an additional 131 shares during the period. Westpac Banking Corp purchased a new stake in Crane during the 1st quarter worth $76,000. Wayfinding Financial LLC purchased a new stake in Crane during the 1st quarter worth $105,000. Brooklyn Investment Group boosted its position in Crane by 35.7% during the 1st quarter. Brooklyn Investment Group now owns 809 shares of the conglomerate's stock worth $124,000 after purchasing an additional 213 shares during the period. Finally, CWM LLC boosted its position in Crane by 70.7% during the 1st quarter. CWM LLC now owns 920 shares of the conglomerate's stock worth $141,000 after purchasing an additional 381 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Stock Performance

Shares of Crane stock opened at $183.57 on Monday. The firm has a market cap of $10.56 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The firm's 50-day simple moving average is $184.95 and its 200-day simple moving average is $177.54. 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 1 year low of $127.04 and a 1 year high of $203.89.

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, beating analysts' consensus estimates of $1.34 by $0.15. The business had revenue of $577.20 million for the quarter, compared to analyst estimates of $567.70 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Equities analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 of this dividend was Friday, August 29th. Crane's dividend payout ratio is currently 15.31%.

Insider Buying and Selling at Crane

In related news, VP Alejandro Alcala sold 20,791 shares of the business's stock in a transaction dated 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 owned 33,526 shares of the company's stock, valued at $6,461,801.24. This represents a 38.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CR has been the subject of a number of research reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Crane in a research report on Wednesday, October 8th. Bank of America upped their price target on shares of Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. 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 report on Wednesday, July 30th. Stifel Nicolaus boosted their price objective on shares of Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, UBS Group reiterated 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Crane presently has an average rating of "Moderate Buy" and an average price target of $222.20.

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.

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