Weiss Asset Management LP Acquires New Stake in Crane $CR

Key Points

• Weiss Asset Management acquired 13,700 Crane shares worth approximately $2.34 million in the first quarter. Institutional investors collectively own 75.14% of the company.
• Crane reported quarterly EPS of $1.65, beating estimates of $1.44, while revenue rose 24.9% year over year to $696.4 million.
• Analyst sentiment remains positive, with the stock carrying an average “Buy” rating and a consensus price target of $234; recent targets range as high as $253.

Weiss Asset Management LP bought a new position in shares of Crane (NYSE:CR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,700 shares of the conglomerate's stock, valued at approximately $2,343,000.

A number of other institutional investors have also added to or reduced their stakes in CR. TD Capital Management LLC bought a new stake in shares of Crane during the 4th quarter valued at about $27,000. Headlands Technologies LLC purchased a new position in shares of Crane during the second quarter worth about $29,000. Flagship Harbor Advisors LLC bought a new position in shares of Crane in the fourth quarter worth approximately $33,000. Kelleher Financial Advisors purchased a new stake in Crane in the third quarter valued at approximately $33,000. Finally, GHP Investment Advisors Inc. bought a new stake in Crane during the first quarter valued at approximately $34,000. 75.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Crane news, Director Susan D. Lynch purchased 150 shares of the stock in a transaction on Thursday, April 30th. The stock was acquired at an average cost of $177.38 per share, with a total value of $26,607.00. Following the completion of the purchase, the director directly owned 370 shares of the company's stock, valued at approximately $65,630.60. This trade represents a 68.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.12% of the stock is owned by corporate insiders.

Crane Trading Up 0.0%

CR stock opened at $226.22 on Monday. The company has a market capitalization of $13.06 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. Crane has a one year low of $159.58 and a one year high of $226.99. The company's 50 day moving average price is $204.46 and its two-hundred day moving average price is $194.22. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The conglomerate reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.21. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $696.40 million during the quarter, compared to analysts' expectations of $672.74 million. During the same quarter in the prior year, the company earned $1.39 EPS. The firm's revenue was up 24.9% on a year-over-year basis. As a group, analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on CR shares. Stifel Nicolaus raised their price objective on shares of Crane from $215.00 to $242.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Wall Street Zen lowered shares of Crane from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. BMO Capital Markets initiated coverage on Crane in a research note on Monday, July 20th. They issued an "outperform" rating and a $253.00 target price on the stock. DA Davidson restated a "buy" rating and set a $235.00 price target on shares of Crane in a research report on Monday, June 1st. Finally, Weiss Ratings lowered Crane from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 4th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $234.00.

About Crane

Crane Co, headquartered in Stamford, Connecticut, is a diversified manufacturer of engineered industrial products serving customers around the world. The company operates through two primary segments: Aerospace & Electronics and Engineered Materials. Its Aerospace & Electronics division designs and produces valves, fittings, manifolds, and filtration systems for aircraft fuel, hydraulics, and environmental control systems. The Engineered Materials segment focuses on advanced polymers, heat exchangers, and specialized composite solutions for industries including chemical processing, semiconductor manufacturing, and power generation.

With roots dating back to its founding in 1855 in Chicago by R.T.

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