Norden Group LLC Sells 239 Shares of Crane $CR

Norden Group LLC decreased its position in shares of Crane (NYSE:CR) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,925 shares of the conglomerate’s stock after selling 239 shares during the quarter. Norden Group LLC’s holdings in Crane were worth $1,125,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CR. Golden State Wealth Management LLC lifted its holdings in shares of 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 during the period. Westpac Banking Corp acquired a new position in Crane during the first quarter valued at approximately $76,000. Fifth Third Bancorp lifted its stake in Crane by 31.4% during the first quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate’s stock worth $87,000 after purchasing an additional 136 shares during the last quarter. UMB Bank n.a. lifted its stake in Crane by 84.7% during the first quarter. UMB Bank n.a. now owns 687 shares of the conglomerate’s stock worth $105,000 after purchasing an additional 315 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Crane in the 1st quarter valued at $105,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Trading Down 1.5%

CR opened at $179.08 on Thursday. 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 company’s 50 day moving average price is $188.96 and its two-hundred day moving average price is $174.15. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.93 and a beta of 1.25.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.15. The company had revenue of $577.20 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. As a group, research analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 dividend payout ratio (DPR) is 15.31%.

Insider Activity at Crane

In related news, VP Alejandro Alcala sold 20,791 shares of the company’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 value of $4,007,257.34. Following the sale, the vice president directly owned 33,526 shares in the company, valued at $6,461,801.24. This represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CR has been the subject of a number of research analyst reports. UBS Group reissued a “buy” rating and set a $230.00 price target (up previously from $215.00) on shares of Crane in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Crane from $187.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. 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. Stifel Nicolaus increased their price objective 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. Finally, Bank of America raised their target price 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. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $222.20.

About Crane

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.