Assenagon Asset Management S.A. Grows Stake in Crane $CR

Assenagon Asset Management S.A. boosted its position in shares of Crane (NYSE:CR) by 86.8% during the third quarter, Holdings Channel reports. The firm owned 136,413 shares of the conglomerate’s stock after buying an additional 63,401 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Crane were worth $25,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Crane during the 2nd quarter worth $29,000. Parkside Financial Bank & Trust grew its stake in Crane by 63.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 219 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 85 shares during the last quarter. Allworth Financial LP increased its holdings in Crane by 15.4% during the 2nd quarter. Allworth Financial LP now owns 390 shares of the conglomerate’s stock valued at $74,000 after acquiring an additional 52 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Crane during the second quarter worth about $96,000. Finally, Front Street Capital Management Inc. acquired a new position in Crane during the second quarter worth about $143,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Crane Stock Up 1.0%

CR stock opened at $185.63 on Friday. The company has a 50 day moving average price of $185.78 and a two-hundred day moving average price of $186.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock has a market capitalization of $10.69 billion, a P/E ratio of 24.59, a PEG ratio of 1.93 and a beta of 1.24. Crane has a one year low of $127.04 and a one year high of $203.89.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, October 27th. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.18. The business 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 business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. Crane has set its FY 2025 guidance at 5.750-5.950 EPS. As a group, sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th were issued a $0.23 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.92 annualized dividend and a yield of 0.5%. Crane’s payout ratio is 14.74%.

Analyst Ratings Changes

Several research firms have recently commented on CR. Stifel Nicolaus lowered their price target on shares of Crane from $202.00 to $200.00 and set a “hold” rating on the stock in a research report on Tuesday. DA Davidson set a $235.00 target price on Crane in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Crane in a report on Monday. Bank of America raised their price target on Crane from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Finally, CJS Securities upgraded Crane to a “strong-buy” rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $221.83.

Crane Company 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.