BlackRock Inc. reduced its position in shares of Crane Holdings, Co. (NYSE:CR – Get Rating) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,843,499 shares of the conglomerate’s stock after selling 5,883 shares during the period. BlackRock Inc. owned 6.85% of Crane worth $336,459,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Crane by 9.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,643 shares of the conglomerate’s stock worth $582,000 after purchasing an additional 569 shares during the period. Foundry Partners LLC raised its position in shares of Crane by 3.2% in the 3rd quarter. Foundry Partners LLC now owns 50,451 shares of the conglomerate’s stock worth $4,416,000 after acquiring an additional 1,559 shares in the last quarter. Interval Partners LP lifted its stake in shares of Crane by 6.5% in the 3rd quarter. Interval Partners LP now owns 122,527 shares of the conglomerate’s stock valued at $10,726,000 after purchasing an additional 7,450 shares during the period. Shell Asset Management Co. grew its stake in Crane by 57.4% in the third quarter. Shell Asset Management Co. now owns 10,771 shares of the conglomerate’s stock worth $943,000 after purchasing an additional 3,927 shares during the period. Finally, Segall Bryant & Hamill LLC raised its holdings in Crane by 42.9% in the third quarter. Segall Bryant & Hamill LLC now owns 135,522 shares of the conglomerate’s stock worth $11,865,000 after purchasing an additional 40,686 shares in the last quarter. 70.83% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, SVP Kurt F. Gallo sold 8,263 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $119.03, for a total transaction of $983,544.89. Following the sale, the senior vice president now owns 289 shares of the company’s stock, valued at approximately $34,399.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Edward S. Switter sold 49,409 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $119.88, for a total transaction of $5,923,150.92. Following the completion of the sale, the vice president now owns 25,174 shares in the company, valued at $3,017,859.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kurt F. Gallo sold 8,263 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $119.03, for a total value of $983,544.89. Following the completion of the transaction, the senior vice president now directly owns 289 shares in the company, valued at $34,399.67. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Crane Stock Down 5.8 %
Crane (NYSE:CR – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The conglomerate reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $824.10 million during the quarter, compared to analyst estimates of $819.89 million. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Analysts predict that Crane Holdings, Co. will post 8.08 earnings per share for the current fiscal year.
Crane Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 8th. Investors of record on Tuesday, February 28th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $1.88 annualized dividend and a yield of 1.70%. Crane’s payout ratio is 24.90%.
Analyst Ratings Changes
CR has been the topic of a number of recent research reports. DA Davidson upped their target price on shares of Crane from $130.00 to $140.00 in a research report on Wednesday, January 25th. StockNews.com assumed coverage on shares of Crane in a research note on Friday. They set a “buy” rating for the company. Finally, Morgan Stanley raised Crane from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $116.00 to $129.00 in a research report on Monday, December 12th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, Crane has a consensus rating of “Buy” and a consensus target price of $128.75.
Crane Profile
Crane Holdings Co engages in the management of a subsidiary, which manufacture aerospace equipment, electronics systems, and flow control systems. The company was founded on December 2, 2021 and is headquartered in Stamford, CT.
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