Crane $CR Shares Sold by Hawk Ridge Capital Management LP

Hawk Ridge Capital Management LP lessened its stake in Crane (NYSE:CR) by 16.8% in the first quarter, Holdings Channel reports. The fund owned 205,744 shares of the conglomerate’s stock after selling 41,656 shares during the quarter. Crane makes up about 1.3% of Hawk Ridge Capital Management LP’s holdings, making the stock its 29th biggest holding. Hawk Ridge Capital Management LP’s holdings in Crane were worth $35,182,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Crane by 289,020.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,855,409 shares of the conglomerate’s stock worth $1,448,773,000 after purchasing an additional 7,852,692 shares in the last quarter. Norges Bank purchased a new stake in Crane during the 4th quarter worth $198,509,000. Freestone Grove Partners LP purchased a new stake in Crane during the 4th quarter worth $76,171,000. AQR Capital Management LLC lifted its holdings in Crane by 85.6% in the 4th quarter. AQR Capital Management LLC now owns 799,864 shares of the conglomerate’s stock worth $147,519,000 after buying an additional 368,816 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Crane by 4,412.6% in the 4th quarter. Federated Hermes Inc. now owns 240,836 shares of the conglomerate’s stock valued at $44,417,000 after buying an additional 235,499 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Crane Stock Up 0.2%

NYSE:CR opened at $226.62 on Tuesday. 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 has a market capitalization of $13.09 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. Crane has a one year low of $159.58 and a one year high of $230.50. The stock has a 50-day simple moving average of $205.58 and a 200 day simple moving average of $194.44.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 27th. The conglomerate reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.21. Crane had a return on equity of 24.45% and a net margin of 13.10%.The firm had revenue of $696.40 million for the quarter, compared to analysts’ expectations of $672.74 million. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Crane’s revenue for the quarter was up 24.9% compared to the same quarter last year. Sell-side analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Insider Buying and Selling at Crane

In other news, Director Susan D. Lynch purchased 150 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost of $177.38 per share, with a total value of $26,607.00. Following the transaction, the director owned 370 shares in the company, valued at approximately $65,630.60. The trade was a 68.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Crane from $215.00 to $242.00 and gave the company a “buy” rating in a research note on Monday, July 20th. BMO Capital Markets assumed coverage on Crane in a research note on Monday, July 20th. They issued an “outperform” rating and a $253.00 price target on the stock. DA Davidson reissued a “buy” rating and issued a $235.00 price target on shares of Crane in a report on Monday, June 1st. Weiss Ratings lowered Crane from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded Crane from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $234.00.

About Crane

Crane Co, headquartered in Stamford, Connecticut, is a diversified manufacturer of engineered industrial products serving customers around the world. The company operates through two primary segments: Aerospace & Electronics and Engineered Materials. Its Aerospace & Electronics division designs and produces valves, fittings, manifolds, and filtration systems for aircraft fuel, hydraulics, and environmental control systems. The Engineered Materials segment focuses on advanced polymers, heat exchangers, and specialized composite solutions for industries including chemical processing, semiconductor manufacturing, and power generation.

With roots dating back to its founding in 1855 in Chicago by R.T.