Crane (NYSE:CR – Get Rating) issued its quarterly earnings data on Monday. The conglomerate reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.23, MarketWatch Earnings reports. Crane had a net margin of 13.10% and a return on equity of 24.93%. The business had revenue of $824.10 million during the quarter, compared to analyst estimates of $819.89 million. During the same quarter last year, the business earned $1.25 EPS. The firm's quarterly revenue was down .1% on a year-over-year basis.
Crane Price Performance
Shares of NYSE CR opened at $115.50 on Wednesday. The stock's 50 day moving average price is $103.55 and its 200-day moving average price is $99.03. The company has a market capitalization of $6.48 billion, a PE ratio of 16.74, a PEG ratio of 1.45 and a beta of 1.51. Crane has a twelve month low of $82.14 and a twelve month high of $116.11. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.49.
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Insider Buying and Selling
In other news, SVP Alejandro Alcala sold 25,649 shares of the firm's stock in a transaction on Monday, November 7th. The stock was sold at an average price of $104.38, for a total transaction of $2,677,242.62. Following the completion of the sale, the senior vice president now directly owns 22,177 shares of the company's stock, valued at approximately $2,314,835.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Kurt F. Gallo sold 2,750 shares of Crane stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $105.53, for a total value of $290,207.50. Following the sale, the senior vice president now owns 25,845 shares of the company's stock, valued at approximately $2,727,422.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Alejandro Alcala sold 25,649 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $104.38, for a total value of $2,677,242.62. Following the transaction, the senior vice president now directly owns 22,177 shares of the company's stock, valued at $2,314,835.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,409 shares of company stock worth $15,809,162. 2.40% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Zions Bancorporation N.A. bought a new position in Crane during the first quarter worth about $42,000. Lazard Asset Management LLC raised its holdings in Crane by 14.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate's stock valued at $116,000 after acquiring an additional 133 shares during the period. Covestor Ltd lifted its position in shares of Crane by 92.5% during the first quarter. Covestor Ltd now owns 1,511 shares of the conglomerate's stock worth $164,000 after acquiring an additional 726 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Crane by 22.7% in the first quarter. Captrust Financial Advisors now owns 1,743 shares of the conglomerate's stock worth $189,000 after acquiring an additional 322 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in shares of Crane in the first quarter valued at $200,000. Hedge funds and other institutional investors own 70.83% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Crane from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 26th. TheStreet raised Crane from a "c+" rating to a "b-" rating in a research note on Thursday, November 10th. Morgan Stanley raised shares of Crane from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $116.00 to $129.00 in a research report on Monday, December 12th. Finally, Stifel Nicolaus cut their target price on Crane from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Tuesday, October 11th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $125.00.
Crane Company Profile
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Crane Holdings Co engages in the management of a subsidiary, which manufacture aerospace equipment, electronics systems, and flow control systems. The company was founded on December 2, 2021 and is headquartered in Stamford, CT.
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