United Services Automobile Association Purchases Shares of 3,275 Crane $CR

Key Points

• United Services Automobile Association has acquired a new stake in Crane (NYSE:CR), purchasing 3,275 shares worth approximately $498,000 in the first quarter.
• Several institutional investors, including Goldman Sachs and Bain Capital, have increased their holdings in Crane, indicating strong institutional interest with over 75% of the company's stock owned by institutional investors.
• Analysts have boosted their price targets for Crane, with a consensus rating of "Moderate Buy" and an average target price of $222.20, reflecting confidence in the company's earnings growth and performance.

United Services Automobile Association purchased a new position in Crane (NYSE:CR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,275 shares of the conglomerate's stock, valued at approximately $498,000.

A number of other hedge funds also recently modified their holdings of CR. Mercer Global Advisors Inc. ADV raised its holdings in shares of Crane by 4.6% in the 4th 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 during the period. BNP Paribas Financial Markets bought a new stake in shares of Crane in the 4th quarter worth approximately $5,532,000. Bank of America Corp DE raised its holdings in Crane by 2.2% during the 4th quarter. Bank of America Corp DE now owns 293,542 shares of the conglomerate's stock valued at $44,545,000 after acquiring an additional 6,425 shares during the period. Cetera Investment Advisers raised its holdings in Crane by 0.9% during the 4th quarter. Cetera Investment Advisers now owns 8,196 shares of the conglomerate's stock valued at $1,244,000 after acquiring an additional 74 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new stake in Crane during the 4th quarter valued at $282,000. Institutional investors own 75.14% of the company's stock.

Crane Price Performance

NYSE:CR traded down $1.28 during midday trading on Tuesday, hitting $181.33. The company had a trading volume of 44,639 shares, compared to its average volume of 311,046. Crane has a 52-week low of $127.04 and a 52-week high of $203.89. The stock's fifty day moving average price is $189.85 and its 200-day moving average price is $173.07. The company has a market capitalization of $10.43 billion, a PE ratio of 24.02, a P/E/G ratio of 1.93 and a beta of 1.25. 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 (NYSE:CR - Get Free Report) last announced its earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.15. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $577.20 million during the quarter, compared to analyst estimates of $567.70 million. During the same period in the previous year, the business earned $1.20 earnings per share. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, research analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

Insider Transactions at Crane

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $192.74, for a total transaction of $4,007,257.34. Following the completion of the sale, the vice president directly owned 33,526 shares in the company, valued at $6,461,801.24. This represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CR. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $187.00 to $226.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. UBS Group reissued a "buy" rating and set a $230.00 target price (up previously from $215.00) on shares of Crane in a report 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 report on Thursday, August 21st. 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 report on Wednesday, July 30th. Finally, DA Davidson upped their price target on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.