Crane $CR Shares Sold by Castleark Management LLC

Castleark Management LLC lowered its stake in shares of Crane (NYSE:CR) by 18.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,390 shares of the conglomerate’s stock after selling 7,850 shares during the quarter. Castleark Management LLC’s holdings in Crane were worth $6,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Crane during the 2nd quarter worth $190,533,000. Bain Capital Public Equity Management II LLC lifted its position in shares of 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 last quarter. Prudential Financial Inc. grew its stake in Crane by 5,159.8% in the second quarter. Prudential Financial Inc. now owns 232,851 shares of the conglomerate’s stock worth $44,216,000 after purchasing an additional 228,424 shares in the last quarter. AQR Capital Management LLC grew its stake in Crane by 299.7% in the second quarter. AQR Capital Management LLC now owns 234,131 shares of the conglomerate’s stock worth $43,876,000 after purchasing an additional 175,554 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Crane by 117.5% in the second quarter. Franklin Resources Inc. now owns 216,314 shares of the conglomerate’s stock valued at $41,076,000 after buying an additional 116,881 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CR. Wolfe Research set a $215.00 target price on Crane and gave the stock an “outperform” rating in a report on Thursday, December 4th. Bank of America upped their price target on Crane from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Crane in a report on Monday, December 8th. DA Davidson set a $235.00 target price on shares of Crane in a research note on Thursday, October 30th. Finally, Stifel Nicolaus raised their price target on shares of Crane from $200.00 to $202.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Crane currently has an average rating of “Buy” and a consensus target price of $222.17.

Crane Price Performance

Shares of CR opened at $191.41 on Friday. 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 fifty day moving average price of $185.23 and a 200 day moving average price of $185.91. The company has a market cap of $11.02 billion, a P/E ratio of 25.35, a PEG ratio of 1.93 and a beta of 1.24.

Crane (NYSE:CR) last posted its earnings results on Monday, October 27th. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The company had revenue of $589.20 million for the quarter, compared to analysts’ expectations of $578.54 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. Crane has set its FY 2025 guidance at 5.750-5.950 EPS. On average, research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, November 28th. Crane’s payout ratio is presently 14.74%.

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.