Crane $CR Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its position in shares of Crane (NYSE:CR) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,447 shares of the conglomerate’s stock after selling 2,025 shares during the period. Allianz Asset Management GmbH’s holdings in Crane were worth $2,174,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. NorthRock Partners LLC raised its holdings in Crane by 12.3% in the second quarter. NorthRock Partners LLC now owns 2,195 shares of the conglomerate’s stock valued at $417,000 after acquiring an additional 240 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Crane by 5.0% in the second quarter. Verdence Capital Advisors LLC now owns 1,788 shares of the conglomerate’s stock valued at $339,000 after acquiring an additional 85 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Crane by 11.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,531 shares of the conglomerate’s stock valued at $481,000 after acquiring an additional 250 shares in the last quarter. CWM LLC raised its holdings in Crane by 183.7% in the second quarter. CWM LLC now owns 2,610 shares of the conglomerate’s stock valued at $496,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Crane by 14.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,794 shares of the conglomerate’s stock valued at $1,290,000 after acquiring an additional 862 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $192.74, for a total value of $4,007,257.34. Following the completion of the sale, the vice president directly owned 33,526 shares of the company’s stock, valued at approximately $6,461,801.24. This represents a 38.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.12% of the company’s stock.

Crane Stock Down 0.2%

Crane stock opened at $191.91 on Friday. The company has a 50-day simple moving average of $184.48 and a 200-day simple moving average of $178.85. The firm has a market capitalization of $11.04 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a one year low of $127.04 and a one year high of $203.89.

Crane (NYSE:CR) last announced its earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.15. The firm had revenue of $577.20 million during the quarter, compared to analyst estimates of $567.70 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, equities analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were issued a $0.23 dividend. 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, August 29th. Crane’s dividend payout ratio is presently 15.31%.

Analysts Set New Price Targets

Several research firms recently issued reports on CR. DA Davidson upped their price target on shares of Crane from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane in a report on Friday. Stifel Nicolaus upped their price target on shares of Crane from $189.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. UBS Group reissued a “buy” rating and set a $230.00 target price (up from $215.00) on shares of Crane in a report on Wednesday, July 30th. Finally, Bank of America increased their target price on shares of Crane from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Crane has an average rating of “Moderate Buy” and a consensus price target of $222.20.

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.