New York State Teachers Retirement System Has $11.48 Million Stake in Crane $CR

New York State Teachers Retirement System decreased its position in Crane (NYSE:CR) by 0.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 60,475 shares of the conglomerate’s stock after selling 200 shares during the period. New York State Teachers Retirement System’s holdings in Crane were worth $11,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its stake in Crane by 104.8% in the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 131 shares during the period. Westpac Banking Corp acquired a new stake in shares of Crane during the 1st quarter valued at $76,000. Fifth Third Bancorp boosted its stake in shares of Crane by 31.4% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate’s stock valued at $87,000 after buying an additional 136 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Crane during the 1st quarter valued at $105,000. Finally, Brooklyn Investment Group boosted its stake in shares of Crane by 35.7% during the 1st quarter. Brooklyn Investment Group now owns 809 shares of the conglomerate’s stock valued at $124,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity

In other 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 transaction, the vice president 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.12% of the company’s stock.

Crane Stock Up 1.3%

Crane stock opened at $183.57 on Friday. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 24.31, 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 current ratio of 1.18 and a quick ratio of 0.88. Crane has a fifty-two week low of $127.04 and a fifty-two week high of $203.89. The firm has a fifty day moving average price of $184.95 and a two-hundred day moving average price of $177.32.

Crane (NYSE:CR) last released its earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, topping 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%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 0.5%. Crane’s payout ratio is currently 15.31%.

Analyst Ratings Changes

CR has been the subject of a number of research reports. Bank of America lifted their target price on shares of Crane from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane in a research note on Wednesday, October 8th. DA Davidson lifted their target price on shares of Crane from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. UBS Group reissued a “buy” rating and set a $230.00 target price (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus lifted their target price on shares of Crane from $189.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.