Envestnet Asset Management Inc. Acquires 1,689 Shares of Crane $CR

Envestnet Asset Management Inc. grew its holdings in Crane (NYSE:CR) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,997 shares of the conglomerate’s stock after acquiring an additional 1,689 shares during the period. Envestnet Asset Management Inc.’s holdings in Crane were worth $15,001,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Westpac Banking Corp purchased a new stake in shares of Crane in the 1st quarter worth $76,000. Brooklyn Investment Group grew its holdings in Crane by 35.7% during the first quarter. Brooklyn Investment Group now owns 809 shares of the conglomerate’s stock valued at $124,000 after purchasing an additional 213 shares during the period. CWM LLC increased its position in Crane by 70.7% in the first quarter. CWM LLC now owns 920 shares of the conglomerate’s stock worth $141,000 after buying an additional 381 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Crane by 39.4% in the first quarter. AlphaQuest LLC now owns 924 shares of the conglomerate’s stock worth $142,000 after buying an additional 261 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in shares of Crane during the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CR. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane in a report on Wednesday, October 8th. UBS Group reiterated a “buy” rating and issued a $230.00 price target (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Bank of America raised their price objective on shares of Crane from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. DA Davidson set a $235.00 target price on shares of Crane in a research note on Thursday, October 30th. Finally, Stifel Nicolaus increased their price target on Crane from $200.00 to $202.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $223.60.

Insider Buying and Selling

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $192.74, for a total transaction of $4,007,257.34. Following the completion of the transaction, the vice president owned 33,526 shares in the company, valued at $6,461,801.24. This trade represents a 38.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.12% of the company’s stock.

Crane Price Performance

CR stock opened at $188.49 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company’s fifty day moving average price is $184.19 and its 200-day moving average price is $182.16. Crane has a one year low of $127.04 and a one year high of $203.89. The company has a market capitalization of $10.86 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 27th. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The company had revenue of $589.20 million for the quarter, compared to the consensus estimate of $578.54 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 EPS. Crane has set its FY 2025 guidance at 5.750-5.950 EPS. On average, equities analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 28th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, November 28th. Crane’s payout ratio is currently 14.74%.

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.