Price T Rowe Associates Inc. MD Buys 3,012 Shares of Crane $CR

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Crane by 1.0%, owning approximately 294,703 shares worth $45.14 million, according to a recent SEC filing.
• Crane's latest earnings report showed $1.49 earnings per share, beating estimates, with quarterly revenue of $577.20 million, an increase of 9.2% year-over-year.
• The company declared a quarterly dividend of $0.23 per share, with a payout ratio of 15.31%, to be paid on September 10th.

Price T Rowe Associates Inc. MD boosted its position in shares of Crane (NYSE:CR - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 294,703 shares of the conglomerate's stock after buying an additional 3,012 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.51% of Crane worth $45,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CR. Golden State Wealth Management LLC boosted its stake in Crane by 104.8% during the first 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 last quarter. Westpac Banking Corp bought a new position in Crane during the first quarter valued at approximately $76,000. Fifth Third Bancorp raised its position in Crane by 31.4% during the first quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock valued at $87,000 after purchasing an additional 136 shares during the period. UMB Bank n.a. raised its position in Crane by 84.7% during the first quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock valued at $105,000 after purchasing an additional 315 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Crane during the first quarter valued at approximately $105,000. 75.14% of the stock is owned by institutional investors.

Crane Trading Down 1.1%

CR traded down $2.12 during trading on Tuesday, hitting $183.18. 382,477 shares of the stock were exchanged, compared to its average volume of 311,944. The firm has a 50 day simple moving average of $191.03 and a 200 day simple moving average of $171.95. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 1.93 and a beta of 1.25. Crane has a 1 year low of $127.04 and a 1 year high of $203.89. 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 (NYSE:CR - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.34 by $0.15. The company had revenue of $577.20 million for the quarter, compared to the consensus estimate of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.Crane's quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, equities analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, August 29th. Crane's dividend payout ratio (DPR) is presently 15.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CR. Bank of America upped their price objective on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research report 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 report on Wednesday, July 30th. DA Davidson increased their price target on 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 Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a report 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's stock. According to data from MarketBeat, Crane presently has a consensus 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 the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $192.74, for a total transaction of $4,007,257.34. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.12% of the stock is owned by insiders.

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.