XTX Topco Ltd Invests $384,000 in Crane (NYSE:CR)

Key Points

• XTX Topco Ltd has acquired 2,510 shares of Crane (NYSE:CR) valued at approximately $384,000, indicating growing institutional interest in the company.
• Crane reported earnings of $1.49 per share for the last quarter, exceeding estimates and achieving a 9.2% year-over-year revenue increase to $577.20 million.
• The company announced a quarterly dividend of $0.23 per share, equating to an annual yield of 0.5%, showcasing its commitment to returning value to shareholders.

XTX Topco Ltd bought a new stake in Crane (NYSE:CR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,510 shares of the conglomerate's stock, valued at approximately $384,000.

Other hedge funds have also bought and sold shares of the company. LPL Financial LLC lifted its position in Crane by 7.6% during the first quarter. LPL Financial LLC now owns 27,520 shares of the conglomerate's stock worth $4,215,000 after acquiring an additional 1,947 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Crane by 2.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,318 shares of the conglomerate's stock worth $2,040,000 after acquiring an additional 328 shares during the last quarter. TD Asset Management Inc lifted its position in Crane by 0.5% during the first quarter. TD Asset Management Inc now owns 19,326 shares of the conglomerate's stock worth $2,960,000 after acquiring an additional 92 shares during the last quarter. HB Wealth Management LLC acquired a new stake in Crane during the first quarter worth approximately $339,000. Finally, Machina Capital S.A.S. bought a new position in shares of Crane during the first quarter worth approximately $228,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Up 1.4%

Shares of NYSE:CR traded up $2.70 during midday trading on Tuesday, hitting $197.06. 181,085 shares of the company's stock were exchanged, compared to its average volume of 310,007. 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. The stock has a 50 day moving average price of $187.67 and a 200-day moving average price of $169.64. The company has a market cap of $11.34 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26.

Crane (NYSE:CR - Get Free Report) last released its earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.15. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $577.20 million for the quarter, compared to analysts' expectations of $567.70 million. During the same period in the previous year, the company earned $1.20 earnings per share. The company's quarterly revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. Crane's payout ratio is presently 15.31%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. DA Davidson raised their target price on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Stifel Nicolaus lifted their price objective on shares of Crane from $189.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, UBS Group reissued a "buy" rating and issued a $230.00 price objective (up from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $221.50.

Insider Buying and Selling at Crane

In related news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total transaction of $230,230.00. Following the completion of the transaction, the senior vice president directly owned 9,796 shares of the company's stock, valued at $1,734,871.60. This trade represents a 11.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.12% of the company's stock.

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.