Crane Holdings, Co. (NYSE:CR – Get Rating) – William Blair dropped their Q1 2023 earnings per share estimates for shares of Crane in a research report issued to clients and investors on Wednesday, January 25th. William Blair analyst N. Heymann now forecasts that the conglomerate will post earnings per share of $1.96 for the quarter, down from their previous estimate of $2.12. The consensus estimate for Crane's current full-year earnings is $8.13 per share. William Blair also issued estimates for Crane's Q2 2023 earnings at $2.02 EPS, Q3 2023 earnings at $2.01 EPS and Q4 2023 earnings at $2.26 EPS.
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A number of other research analysts have also issued reports on CR. StockNews.com lowered Crane from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 26th. DA Davidson lifted their price target on Crane from $130.00 to $140.00 in a research note on Wednesday. Stifel Nicolaus decreased their price target on Crane from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Tuesday, October 11th. Morgan Stanley upgraded Crane from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $116.00 to $129.00 in a research note on Monday, December 12th. Finally, TheStreet upgraded Crane from a "c+" rating to a "b-" rating in a research note on Thursday, November 10th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $128.75.
Crane Trading Up 1.0 %
NYSE:CR opened at $116.94 on Thursday. The firm has a market cap of $6.57 billion, a P/E ratio of 15.49, a PEG ratio of 1.52 and a beta of 1.51. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 0.28. The stock's 50 day simple moving average is $104.06 and its 200-day simple moving average is $99.27. Crane has a 12-month low of $82.14 and a 12-month high of $116.95.
Crane (NYSE:CR – Get Rating) last released its quarterly earnings results on Monday, January 23rd. The conglomerate reported $2.13 EPS for the quarter, topping the consensus estimate of $1.90 by $0.23. The company had revenue of $824.10 million for the quarter, compared to analyst estimates of $819.89 million. Crane had a return on equity of 24.43% and a net margin of 13.10%. The firm's revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share.
Crane Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Stockholders of record on Tuesday, February 28th will be issued a $0.47 dividend. The ex-dividend date is Monday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.61%. Crane's dividend payout ratio (DPR) is 24.90%.
Insider Transactions at Crane
In related news, SVP Kurt F. Gallo sold 2,750 shares of the company's stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $105.53, for a total value of $290,207.50. Following the completion of the transaction, the senior vice president now directly owns 25,845 shares in the company, valued at $2,727,422.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Max H. Mitchell sold 117,103 shares of the company's stock in a transaction on Monday, November 7th. The stock was sold at an average price of $104.40, for a total value of $12,225,553.20. Following the completion of the transaction, the chief executive officer now directly owns 347,460 shares in the company, valued at $36,274,824. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kurt F. Gallo sold 2,750 shares of the company's 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 completion of the transaction, the senior vice president now owns 25,845 shares of the company's stock, valued at $2,727,422.85. The disclosure for this sale can be found here. Insiders sold a total of 151,409 shares of company stock valued at $15,809,162 over the last three months. 2.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Crane
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. boosted its position in shares of Crane by 237.0% in the second 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 period. Truvestments Capital LLC purchased a new stake in shares of Crane in the third quarter worth about $31,000. Ronald Blue Trust Inc. boosted its position in shares of Crane by 109.7% in the fourth quarter. Ronald Blue Trust Inc. now owns 390 shares of the conglomerate's stock worth $34,000 after buying an additional 204 shares during the period. WASHINGTON TRUST Co purchased a new stake in shares of Crane in the third quarter worth about $35,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Crane in the first quarter worth about $42,000. 70.83% of the stock is currently owned by institutional investors and hedge funds.
About Crane
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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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