Synovus Financial Corp Purchases 1,500 Shares of Crane $CR

Key Points

• Synovus Financial Corp increased its investment in Crane by 16.5%, acquiring an additional 1,500 shares, bringing its total holdings to 10,572 shares valued at $1,619,000.
• Analysts have generally given Crane a positive outlook, with multiple firms raising their price targets, resulting in a current consensus target price of $222.20 and an average rating of "Moderate Buy."
• Crane recently announced a quarterly dividend of $0.23 per share, with an annualized yield of 0.5%, highlighting the company's commitment to returning value to shareholders.

Synovus Financial Corp grew its position in Crane (NYSE:CR - Free Report) by 16.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,572 shares of the conglomerate's stock after acquiring an additional 1,500 shares during the period. Synovus Financial Corp's holdings in Crane were worth $1,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its holdings in Crane by 1.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 989,002 shares of the conglomerate's stock worth $151,496,000 after purchasing an additional 12,505 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Crane by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 842,240 shares of the conglomerate's stock worth $129,011,000 after acquiring an additional 44,360 shares during the period. Neuberger Berman Group LLC boosted its position in Crane by 0.4% during 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. Select Equity Group L.P. boosted its position in Crane by 25.2% during the fourth quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate's stock worth $114,445,000 after purchasing an additional 151,717 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Crane by 23.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate's stock worth $104,127,000 after purchasing an additional 130,218 shares during the period. Institutional investors own 75.14% of the company's stock.

Insider Buying and Selling at Crane

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the company'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 completion of the transaction, the vice president directly owned 33,526 shares in the company, valued at approximately $6,461,801.24. This represents a 38.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.12% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CR. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Stifel Nicolaus boosted their price target on 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 boosted their target price on shares of Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. UBS Group reissued a "buy" rating and issued a $230.00 target price (up previously from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Finally, DA Davidson boosted their price target on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Crane has an average rating of "Moderate Buy" and a consensus price target of $222.20.

Crane Price Performance

Shares of CR stock traded down $6.69 on Friday, hitting $185.28. 425,252 shares of the company's stock were exchanged, compared to its average volume of 311,517. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The stock has a market cap of $10.66 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. Crane has a 12 month low of $127.04 and a 12 month high of $203.89. The company has a 50 day moving average of $191.02 and a 200 day moving average of $171.76.

Crane (NYSE:CR - Get Free Report) last issued its earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.34 by $0.15. The firm had revenue of $577.20 million during 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%.The business's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, equities research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 0.5%. The ex-dividend date is Friday, August 29th. Crane's payout ratio is 15.31%.

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.