The Manufacturers Life Insurance Company Has $39.03 Million Stake in Crane $CR

The Manufacturers Life Insurance Company lifted its position in shares of Crane (NYSE:CR) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,802 shares of the conglomerate’s stock after acquiring an additional 27,275 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.44% of Crane worth $39,031,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CR. Nuveen LLC acquired a new stake in shares of Crane during the 1st quarter valued at $75,254,000. Select Equity Group L.P. boosted its holdings in shares of Crane by 25.2% during the 4th quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate’s stock valued at $114,445,000 after acquiring an additional 151,717 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Crane by 23.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate’s stock valued at $104,127,000 after acquiring an additional 130,218 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Crane during the 1st quarter valued at $18,835,000. Finally, Bain Capital Public Equity Management II LLC boosted its holdings in shares of Crane by 27.0% during the 4th quarter. Bain Capital Public Equity Management II LLC now owns 431,254 shares of the conglomerate’s stock valued at $65,443,000 after acquiring an additional 91,631 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Performance

Shares of Crane stock opened at $185.28 on Monday. Crane has a one year low of $127.04 and a one year high of $203.89. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.93 and a beta of 1.25. The business has a 50-day simple moving average of $191.02 and a 200 day simple moving average of $171.78. 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 (NYSE:CR) last issued its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 EPS 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 return on equity of 24.45% and a net margin of 13.10%.The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. DA Davidson raised their target price on Crane from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Bank of America lifted their price objective on Crane from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Stifel Nicolaus boosted their target price on Crane from $189.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Crane from $187.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Finally, UBS Group reaffirmed a “buy” rating and issued a $230.00 target price (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $222.20.

Insider Buying and Selling

In other Crane news, VP Alejandro Alcala sold 20,791 shares of the business’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 sale, the vice president directly owned 33,526 shares of the company’s stock, valued at approximately $6,461,801.24. The trade was a 38.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company’s stock.

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.