United Services Automobile Association Takes Position in 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 bought a new stake in Crane (NYSE:CR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,275 shares of the conglomerate's stock, valued at approximately $498,000.

A number of other institutional investors also recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of Crane by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 440,817 shares of the conglomerate's stock valued at $67,524,000 after acquiring an additional 84,278 shares during the period. Millennium Management LLC lifted its position in Crane by 31.3% during the first quarter. Millennium Management LLC now owns 136,009 shares of the conglomerate's stock worth $20,834,000 after purchasing an additional 32,393 shares during the period. Clark Capital Management Group Inc. lifted its position in Crane by 14.8% during the first quarter. Clark Capital Management Group Inc. now owns 31,844 shares of the conglomerate's stock worth $4,878,000 after purchasing an additional 4,103 shares during the period. Boothbay Fund Management LLC lifted its position in Crane by 5.7% during the first quarter. Boothbay Fund Management LLC now owns 78,525 shares of the conglomerate's stock worth $12,028,000 after purchasing an additional 4,221 shares during the period. Finally, Bain Capital Public Equity Management II LLC lifted its position in Crane by 117.3% during the first quarter. Bain Capital Public Equity Management II LLC now owns 937,237 shares of the conglomerate's stock worth $143,566,000 after purchasing an additional 505,983 shares during the period. Institutional investors own 75.14% of the company's stock.

Analysts Set New Price Targets

CR has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective 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. Bank of America raised their target price on Crane from $220.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, August 21st. DA Davidson raised their target price on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. UBS Group reaffirmed a "buy" rating and issued a $230.00 target price (up previously from $215.00) on shares of Crane in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $222.20.

Insider Transactions at Crane

In related news, VP Alejandro Alcala sold 20,791 shares of the firm'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 owned 33,526 shares in the company, valued at $6,461,801.24. This trade represents a 38.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.12% of the stock is currently owned by company insiders.

Crane Stock Up 0.2%

CR stock opened at $182.70 on Thursday. The stock has a market capitalization of $10.51 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 12 month low of $127.04 and a 12 month high of $203.89. The firm has a 50-day moving average price of $190.35 and a 200-day moving average price of $172.46.

Crane (NYSE:CR - Get Free Report) last posted its earnings results 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 net margin of 13.10% and a return on equity of 24.45%. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, equities research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

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

Crane 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.

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