Short Interest in Crane (NYSE:CR) Drops By 21.6%

Key Points

• Crane's short interest dropped by 21.6% to 496,700 shares as of August 31, down from 633,600 shares mid-month.
• The company reported $1.49 EPS for the last quarter, exceeding estimates, with revenue also surpassing expectations at $577.20 million.
• Equities analysts have set a consensus price target of $222.20 for Crane, with multiple analysts rating the stock as a "buy."

Crane (NYSE:CR - Get Free Report) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 496,700 shares, a drop of 21.6% from the August 15th total of 633,600 shares. Based on an average trading volume of 314,500 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.9% of the shares of the company are short sold. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 314,500 shares, the days-to-cover ratio is currently 1.6 days.

Crane Stock Performance

Shares of CR opened at $180.34 on Thursday. The stock has a 50-day moving average price of $189.46 and a 200-day moving average price of $173.19. The company has a market cap of $10.38 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. Crane has a 12-month low of $127.04 and a 12-month high of $203.89. 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 (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, topping analysts' consensus estimates of $1.34 by $0.15. The company had revenue of $577.20 million during the quarter, compared to the consensus estimate of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.Crane's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, equities analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Bank of America lifted their price objective on Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. DA Davidson lifted 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. Stifel Nicolaus lifted their target price on Crane from $189.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Finally, UBS Group reaffirmed 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. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Crane has an average rating of "Moderate Buy" and a consensus price target of $222.20.

Insiders Place Their Bets

In related 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 of the company's stock, valued at approximately $6,461,801.24. This trade represents a 38.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.12% of the company's stock.

Institutional Trading of Crane

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in Crane in the 2nd quarter worth approximately $190,533,000. T. Rowe Price Investment Management Inc. lifted its position in Crane by 1.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 989,002 shares of the conglomerate's stock worth $151,496,000 after buying an additional 12,505 shares during the last quarter. Bain Capital Public Equity Management II LLC lifted its position in Crane by 117.3% in the first quarter. Bain Capital Public Equity Management II LLC now owns 937,237 shares of the conglomerate's stock valued at $143,566,000 after purchasing an additional 505,983 shares during the last quarter. Geode Capital Management LLC lifted its position in Crane by 0.6% in the second quarter. Geode Capital Management LLC now owns 864,230 shares of the conglomerate's stock valued at $164,135,000 after purchasing an additional 4,744 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Crane by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 842,240 shares of the conglomerate's stock valued at $129,011,000 after purchasing an additional 44,360 shares during the last quarter. Institutional investors own 75.14% 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.

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