Natixis Advisors L.P. Raises Holdings in Crane (NYSE:CR)

Posted by on Apr 15th, 2023

Natixis Advisors L.P. lifted its holdings in shares of Crane (NYSE:CR – Get Rating) by 20.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,665 shares of the conglomerate’s stock after purchasing an additional 9,937 shares during the period. Natixis Advisors L.P. owned about 0.10% of Crane worth $5,793,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of Crane during the 3rd quarter worth approximately $31,000. Ronald Blue Trust Inc. grew its stake in Crane by 109.7% in the 4th quarter. Ronald Blue Trust Inc. now owns 390 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 204 shares during the period. WASHINGTON TRUST Co purchased a new stake in Crane in the 3rd quarter worth approximately $35,000. Zions Bancorporation N.A. purchased a new stake in Crane in the 1st quarter worth approximately $42,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Crane in the 3rd quarter worth approximately $67,000. 70.83% of the stock is owned by hedge funds and other institutional investors.

Crane Stock Up 0.4 %

Shares of NYSE CR opened at $80.04 on Friday. Crane has a 52-week low of $69.00 and a 52-week high of $83.00. The firm has a fifty day moving average of $109.56 and a 200-day moving average of $104.83. The stock has a market capitalization of $4.49 billion, a PE ratio of 10.60, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The conglomerate reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $819.89 million. During the same period in the previous year, the company earned $1.25 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 8th. Stockholders of record on Tuesday, February 28th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.35%. Crane’s dividend payout ratio is presently 24.90%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of Crane in a research note on Tuesday. They issued a “buy” rating for the company. DA Davidson assumed coverage on shares of Crane in a research note on Tuesday, April 4th. They issued a “buy” rating and a $90.00 target price for the company. Finally, UBS Group lowered their target price on shares of Crane from $120.00 to $82.00 and set a “neutral” rating for the company in a research note on Wednesday, April 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.50.

Insider Activity

In related news, SVP Kurt F. Gallo sold 8,263 shares of Crane stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $119.03, for a total transaction of $983,544.89. Following the transaction, the senior vice president now owns 289 shares in the company, valued at approximately $34,399.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Edward S. Switter sold 49,409 shares of Crane stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $119.88, for a total transaction of $5,923,150.92. Following the transaction, the vice president now owns 25,174 shares in the company, valued at approximately $3,017,859.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kurt F. Gallo sold 8,263 shares of Crane stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $119.03, for a total transaction of $983,544.89. Following the transaction, the senior vice president now owns 289 shares in the company, valued at approximately $34,399.67. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Crane Company Profile

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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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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