T. Rowe Price Investment Management Inc. Raises Position in Crane $CR

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Crane by 1.3%, owning 989,002 shares valued at approximately $151.5 million.
• Crane has seen a series of upgraded price targets from several analysts, with Deutsche Bank setting a target of $226.00 and a consensus rating of "Moderate Buy."
• Crane recently declared a quarterly dividend of $0.23 per share, reflecting an annual yield of 0.5%.

T. Rowe Price Investment Management Inc. grew its stake in shares of Crane (NYSE:CR - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 989,002 shares of the conglomerate's stock after purchasing an additional 12,505 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.72% of Crane worth $151,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Cetera Investment Advisers raised its holdings in shares of Crane by 0.9% during the fourth quarter. Cetera Investment Advisers now owns 8,196 shares of the conglomerate's stock valued at $1,244,000 after purchasing an additional 74 shares during the period. NorthRock Partners LLC raised its holdings in shares of Crane by 4.2% during the fourth quarter. NorthRock Partners LLC now owns 1,954 shares of the conglomerate's stock valued at $297,000 after purchasing an additional 79 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Crane by 4.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,037 shares of the conglomerate's stock valued at $309,000 after purchasing an additional 90 shares during the period. TD Asset Management Inc raised its holdings in shares of Crane by 0.5% during the first quarter. TD Asset Management Inc now owns 19,326 shares of the conglomerate's stock valued at $2,960,000 after purchasing an additional 92 shares during the period. Finally, Intrust Bank NA raised its holdings in shares of Crane by 2.7% during the first quarter. Intrust Bank NA now owns 3,686 shares of the conglomerate's stock valued at $565,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Crane Stock Down 1.0%

NYSE:CR traded down $1.9930 on Monday, hitting $192.2370. The stock had a trading volume of 272,878 shares, compared to its average volume of 310,328. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock has a market cap of $11.06 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. Crane has a 1 year low of $127.04 and a 1 year high of $203.89. The firm's fifty day simple moving average is $189.76 and its two-hundred day simple moving average is $171.06.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, beating the consensus estimate 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 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 last year, the business posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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 paid a $0.23 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.92 annualized dividend and a yield of 0.5%. Crane's dividend payout ratio (DPR) is 15.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CR shares. Bank of America upped their target price on shares of Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday. DA Davidson raised their price target on shares of Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. UBS Group reaffirmed a "buy" rating and issued a $230.00 price target (up previously from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Stifel Nicolaus raised their price target on shares of Crane from $189.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Four investment 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.