The Manufacturers Life Insurance Company Raises Holdings in Crane $CR

Key Points

• The Manufacturers Life Insurance Company increased its stake in Crane by 12.0%, owning approximately 0.44% of the company worth $39.03 million after acquiring additional shares in Q1.
• Crane reported a 9.2% year-over-year increase in revenue for the last quarter, achieving $577.20 million and exceeding analysts' estimates.
• The company declared a quarterly dividend of $0.23 per share, with a 0.5% yield, to be paid on September 10th to shareholders on record as of August 29th.

The Manufacturers Life Insurance Company increased its position in shares of Crane (NYSE:CR - Free Report) by 12.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,802 shares of the conglomerate's stock after purchasing an additional 27,275 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.44% of Crane worth $39,031,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CR. Hsbc Holdings PLC raised its holdings in Crane by 258.3% during the fourth quarter. Hsbc Holdings PLC now owns 5,331 shares of the conglomerate's stock worth $814,000 after purchasing an additional 3,843 shares in the last quarter. Northern Trust Corp raised its holdings in Crane by 20.9% during the fourth quarter. Northern Trust Corp now owns 460,392 shares of the conglomerate's stock worth $69,864,000 after purchasing an additional 79,481 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Crane by 4.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,037 shares of the conglomerate's stock worth $309,000 after purchasing an additional 90 shares in the last quarter. Algert Global LLC raised its holdings in Crane by 45.5% during the fourth quarter. Algert Global LLC now owns 14,087 shares of the conglomerate's stock worth $2,138,000 after purchasing an additional 4,408 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Crane during the fourth quarter worth about $5,532,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

Shares of NYSE CR traded down $1.06 on Friday, hitting $184.03. The company's stock had a trading volume of 232,921 shares, compared to its average volume of 311,451. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The stock has a 50 day moving average of $190.82 and a 200-day moving average of $172.19. Crane has a 12-month low of $127.04 and a 12-month high of $203.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

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, topping analysts' consensus estimates of $1.34 by $0.15. The firm had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.The firm's quarterly revenue was up 9.2% compared to the same quarter last year. 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. As a group, research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued 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 payout ratio is 15.31%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. DA Davidson boosted their target price on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Stifel Nicolaus boosted their target price on shares of Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. UBS Group restated a "buy" rating and set a $230.00 target price (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Bank of America raised their price objective on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company 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 Crane stock in a transaction dated 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 $6,461,801.24. The trade was a 38.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.12% of the stock is owned by company insiders.

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.