Select Equity Group L.P. Has $111.64 Million Holdings in Crane $CR

Key Points

• Select Equity Group L.P. reduced its stake in Crane by 3.4%, now holding 728,792 shares valued at approximately $111.6 million.
• Crane received several positive upgrades from analysts, with price targets increased by firms like Bank of America and Deutsche Bank, bringing the average consensus target to $222.20.
• The company recently declared a $0.23 quarterly dividend with an annualized yield of 0.5%, reflecting a low dividend payout ratio of 15.31%.

Select Equity Group L.P. cut its stake in shares of Crane (NYSE:CR - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 728,792 shares of the conglomerate's stock after selling 25,378 shares during the quarter. Select Equity Group L.P. owned 1.27% of Crane worth $111,636,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted 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 in the last quarter. Westpac Banking Corp acquired a new stake in Crane during the 1st quarter valued at $76,000. Fifth Third Bancorp raised its stake in Crane by 31.4% during the 1st 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 stake in Crane by 84.7% during the 1st 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 acquired a new stake in Crane during the 1st quarter valued at $105,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crane

In other news, VP Alejandro Alcala sold 20,791 shares of the business's stock in a transaction 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 completion of the sale, the vice president directly owned 33,526 shares in the company, valued at approximately $6,461,801.24. The trade was a 38.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.12% of the company's stock.

Crane Stock Down 1.2%

Shares of CR traded down $2.31 during mid-day trading on Friday, hitting $184.09. 60,887 shares of the company's stock were exchanged, compared to its average volume of 312,101. The firm has a fifty day moving average of $190.22 and a two-hundred day moving average of $172.63. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $127.04 and a twelve month high of $203.89. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.93 and a beta of 1.25.

Crane (NYSE:CR - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, topping 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 business had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 million. During the same period in the previous year, the company earned $1.20 earnings per share. Crane'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 forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, August 29th. Crane's payout ratio is presently 15.31%.

Analysts Set New Price Targets

Several analysts have issued reports on CR shares. Stifel Nicolaus boosted their target price 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 lifted their target price 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 reissued a "buy" rating and set a $230.00 target price (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. DA Davidson lifted their target price on shares of Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.