Crane $CR Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its stake in shares of Crane (NYSE:CR) by 45.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,624 shares of the conglomerate’s stock after selling 8,702 shares during the period. TD Asset Management Inc’s holdings in Crane were worth $2,017,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CR. Wealth Enhancement Advisory Services LLC grew its holdings in Crane by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,873 shares of the conglomerate’s stock worth $1,053,000 after acquiring an additional 250 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Crane by 1.4% during the 1st quarter. State of Alaska Department of Revenue now owns 11,111 shares of the conglomerate’s stock worth $1,701,000 after acquiring an additional 150 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in Crane during the 1st quarter worth $1,132,000. Golden State Wealth Management LLC grew its holdings in Crane by 104.8% during the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate’s stock worth $39,000 after acquiring an additional 131 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new position in Crane during the 1st quarter worth $18,835,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Crane

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Stifel Nicolaus lifted 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. Bank of America lifted their price target on shares of Crane from $220.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane in a report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating and issued a $230.00 price target (up from $215.00) on shares of Crane in a report on Wednesday, July 30th. Finally, DA Davidson lifted 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. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Crane presently has an average rating of “Moderate Buy” and a consensus target price of $222.20.

Crane Trading Up 0.9%

Crane stock opened at $189.17 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $184.66 and a two-hundred day moving average price of $177.97. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.93 and a beta of 1.22. Crane has a 52-week low of $127.04 and a 52-week high of $203.89.

Crane (NYSE:CR) last posted 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Sell-side analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, August 29th. Crane’s payout ratio is 15.31%.

Crane Company 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.