Crane (NYSE:CR) Issues Quarterly Earnings Results

Crane (NYSE:CR) posted its quarterly earnings data on Monday. The conglomerate reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.10, FiscalAI reports. The company had revenue of $581.00 million during the quarter, compared to the consensus estimate of $572.16 million. Crane had a net margin of 13.10% and a return on equity of 24.45%.

Crane Stock Up 2.7%

NYSE CR traded up $5.58 on Monday, reaching $209.82. The company had a trading volume of 869,151 shares, compared to its average volume of 337,499. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a 1 year low of $127.04 and a 1 year high of $214.31. The firm has a 50-day moving average of $190.51 and a 200-day moving average of $188.49. The firm has a market capitalization of $12.08 billion, a PE ratio of 27.79, a P/E/G ratio of 1.93 and a beta of 1.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Qube Research & Technologies Ltd raised its stake in shares of Crane by 114.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 439,157 shares of the conglomerate’s stock valued at $80,866,000 after purchasing an additional 234,681 shares in the last quarter. Millennium Management LLC grew its position in shares of Crane by 116.2% in the 3rd quarter. Millennium Management LLC now owns 401,596 shares of the conglomerate’s stock worth $73,950,000 after acquiring an additional 215,815 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Crane by 84.1% in the 3rd quarter. AQR Capital Management LLC now owns 431,048 shares of the conglomerate’s stock valued at $78,300,000 after acquiring an additional 196,917 shares during the last quarter. UBS Group AG raised its position in shares of Crane by 48.7% during the 3rd quarter. UBS Group AG now owns 568,276 shares of the conglomerate’s stock valued at $104,642,000 after acquiring an additional 186,060 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Crane during the third quarter worth $17,183,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. CJS Securities raised shares of Crane to a “strong-buy” rating in a research note on Thursday, December 11th. DA Davidson set a $235.00 target price on Crane in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Crane in a research note on Monday, December 29th. Wolfe Research set a $215.00 target price on shares of Crane and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Finally, Stifel Nicolaus raised their price target on shares of Crane from $200.00 to $201.00 and gave the company a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Crane currently has a consensus rating of “Buy” and an average price target of $222.00.

Crane Company Profile

Crane Co, headquartered in Stamford, Connecticut, is a diversified manufacturer of engineered industrial products serving customers around the world. The company operates through two primary segments: Aerospace & Electronics and Engineered Materials. Its Aerospace & Electronics division designs and produces valves, fittings, manifolds, and filtration systems for aircraft fuel, hydraulics, and environmental control systems. The Engineered Materials segment focuses on advanced polymers, heat exchangers, and specialized composite solutions for industries including chemical processing, semiconductor manufacturing, and power generation.

With roots dating back to its founding in 1855 in Chicago by R.T.