New York State Teachers Retirement System trimmed its holdings in Crane (NYSE:CR – Get Rating) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,698 shares of the conglomerate’s stock after selling 4,500 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Crane worth $7,403,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in Crane during the 3rd quarter worth about $31,000. Zions Bancorporation N.A. bought a new stake in Crane during the 1st quarter worth about $42,000. Ronald Blue Trust Inc. raised its holdings in Crane by 109.7% during the 4th quarter. Ronald Blue Trust Inc. now owns 390 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 204 shares during the last quarter. WASHINGTON TRUST Co bought a new stake in Crane during the 3rd quarter worth about $35,000. Finally, Wipfli Financial Advisors LLC bought a new stake in Crane during the 3rd quarter worth about $67,000. 70.83% of the stock is owned by institutional investors.
Insider Activity at Crane
In related news, SVP Kurt F. Gallo sold 8,263 shares of the business’s stock in a transaction that occurred on 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 approximately $34,399.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kurt F. Gallo sold 8,263 shares of the business’s stock in a transaction that occurred on 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 approximately $34,399.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Edward S. Switter sold 49,409 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $119.88, for a total value of $5,923,150.92. Following the completion of the transaction, the vice president now owns 25,174 shares of the company’s stock, valued at $3,017,859.12. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Crane Price Performance
Crane (NYSE:CR – Get Rating) last issued 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 return on equity of 24.45% and a net margin of 13.10%. The business 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 firm earned $1.25 EPS. Crane’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Crane will post 7.87 EPS for the current 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 given a $0.47 dividend. The ex-dividend date of this dividend 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%.
Analyst Ratings Changes
CR has been the subject of several recent research reports. StockNews.com initiated coverage on Crane in a report on Tuesday. They set a “buy” rating for the company. DA Davidson started coverage on Crane in a research report on Tuesday, April 4th. They set a “buy” rating and a $90.00 target price for the company. Finally, UBS Group decreased their target price on Crane from $120.00 to $82.00 and set a “neutral” rating for the company in a research report on Wednesday, April 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.50.
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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