Strs Ohio Makes New $9.49 Million Investment in Crane $CR

Key Points

• Strs Ohio has invested approximately $9.49 million in Crane by purchasing 61,946 shares, representing about 0.11% of the company's total stock.
• Several institutional investors have significantly increased their stakes in Crane, with Golden State Wealth Management raising its position by 104.8%.
• Analysts are optimistic about Crane's stock, with multiple firms raising their price targets, resulting in an average target of $222.20 and a rating of "Moderate Buy."

Strs Ohio acquired a new stake in Crane (NYSE:CR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,946 shares of the conglomerate's stock, valued at approximately $9,489,000. Strs Ohio owned approximately 0.11% of Crane as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CR. Cetera Investment Advisers increased its holdings in shares of Crane by 0.9% in the fourth quarter. Cetera Investment Advisers now owns 8,196 shares of the conglomerate's stock worth $1,244,000 after purchasing an additional 74 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Crane by 3.1% during the first quarter. EP Wealth Advisors LLC now owns 2,445 shares of the conglomerate's stock worth $375,000 after acquiring an additional 74 shares during the last quarter. NorthRock Partners LLC increased its stake in Crane by 4.2% during the fourth quarter. NorthRock Partners LLC now owns 1,954 shares of the conglomerate's stock worth $297,000 after acquiring an additional 79 shares during the last quarter. TD Asset Management Inc increased its stake in Crane by 0.5% during the first quarter. TD Asset Management Inc now owns 19,326 shares of the conglomerate's stock worth $2,960,000 after acquiring an additional 92 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Crane by 4.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,432 shares of the conglomerate's stock worth $373,000 after acquiring an additional 95 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Trading Up 1.9%

Shares of NYSE CR traded up $3.36 during trading hours on Thursday, reaching $184.02. The stock had a trading volume of 208,962 shares, compared to its average volume of 311,892. 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 firm has a market cap of $10.59 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.93 and a beta of 1.25. The business's fifty day moving average price is $189.41 and its two-hundred day moving average price is $173.38. Crane has a 52-week low of $127.04 and a 52-week 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. The firm had revenue of $577.20 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group reissued a "buy" rating and set a $230.00 price objective (up from $215.00) on shares of Crane in a research note on Wednesday, July 30th. DA Davidson boosted their price objective on Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Stifel Nicolaus boosted their price objective on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Bank of America boosted their price objective on Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Crane from $187.00 to $226.00 and gave the stock 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $222.20.

Insider Activity

In related news, VP Alejandro Alcala sold 20,791 shares of the business's 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 completion of the sale, the vice president 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.12% of the company's stock.

Crane Company 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.