Crane Holdings, Co. (NYSE:CR – Get Rating) saw an uptick in trading volume on Wednesday after DA Davidson raised their price target on the stock from $130.00 to $140.00. 165,227 shares changed hands during trading, a decline of 50% from the previous session's volume of 331,252 shares.The stock last traded at $113.31 and had previously closed at $115.50.
Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Crane from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Tuesday, October 11th. TheStreet upgraded shares of Crane from a "c+" rating to a "b-" rating in a research note on Thursday, November 10th. Morgan Stanley upgraded shares of Crane from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $116.00 to $129.00 in a research note on Monday, December 12th. Finally, StockNews.com cut shares of Crane from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 26th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $128.75.
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Insider Buying and Selling at Crane
In other Crane news, SVP Alejandro Alcala sold 25,649 shares of Crane 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 sale, the senior vice president now directly owns 22,177 shares in the company, valued at approximately $2,314,835.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Crane news, SVP Kurt F. Gallo sold 2,750 shares of Crane stock in a transaction 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 directly owns 25,845 shares in the company, valued at approximately $2,727,422.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Alejandro Alcala sold 25,649 shares of Crane stock in a transaction on Monday, November 7th. The shares were 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 owns 22,177 shares in the company, valued at $2,314,835.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,409 shares of company stock worth $15,809,162. Insiders own 2.40% of the company's stock.
Institutional Trading of Crane
A number of large investors have recently made changes to their positions in CR. Pinebridge Investments L.P. increased its holdings in shares of Crane by 237.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 337 shares of the conglomerate's stock worth $30,000 after buying an additional 237 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Crane in the 3rd quarter worth about $31,000. Ronald Blue Trust Inc. grew its holdings in Crane by 109.7% during the 4th quarter. Ronald Blue Trust Inc. now owns 390 shares of the conglomerate's stock valued at $34,000 after purchasing an additional 204 shares during the last quarter. WASHINGTON TRUST Co bought a new position in Crane during the 3rd quarter valued at about $35,000. Finally, Zions Bancorporation N.A. bought a new position in Crane during the 1st quarter valued at about $42,000. 70.83% of the stock is currently owned by institutional investors.
Crane Price Performance
The company has a market capitalization of $6.50 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.45 and a beta of 1.51. The firm's fifty day moving average is $103.78 and its 200 day moving average is $99.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.38.
Crane (NYSE:CR – Get Rating) last issued its quarterly earnings results on Monday, January 23rd. The conglomerate reported $2.13 EPS for the quarter, beating the consensus estimate of $1.90 by $0.23. The company had revenue of $824.10 million for the quarter, compared to the consensus estimate of $819.89 million. Crane had a net margin of 13.10% and a return on equity of 24.93%. The firm's revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. As a group, analysts predict that Crane Holdings, Co. will post 8.13 earnings per share for the current fiscal year.
Crane Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $1.88 annualized dividend and a yield of 1.62%. Crane's payout ratio is 27.25%.
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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