Creative Planning Sells 338 Shares of Crane (NYSE:CR)

Posted by Defense World Staff on Jun 5th, 2023

Creative Planning cut its stake in Crane (NYSE:CR – Get Rating) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,433 shares of the conglomerate’s stock after selling 338 shares during the period. Creative Planning’s holdings in Crane were worth $1,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System lifted its holdings in shares of Crane by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the conglomerate’s stock valued at $1,286,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Crane by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,050 shares of the conglomerate’s stock valued at $1,411,000 after purchasing an additional 108 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Crane by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,919 shares of the conglomerate’s stock valued at $896,000 after purchasing an additional 108 shares during the last quarter. Legacy Financial Advisors Inc. lifted its holdings in shares of Crane by 2.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 5,030 shares of the conglomerate’s stock valued at $505,000 after purchasing an additional 122 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Crane by 14.1% during the first quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 133 shares during the last quarter. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crane news, CEO Max H. Mitchell sold 37,495 shares of Crane stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $76.48, for a total value of $2,867,617.60. Following the completion of the sale, the chief executive officer now owns 322,628 shares of the company’s stock, valued at approximately $24,674,589.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.40% of the stock is currently owned by insiders.

Crane Trading Up 5.0 %

NYSE:CR opened at $77.01 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 12 month low of $67.28 and a 12 month high of $83.00. The company has a market cap of $4.37 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The company has a 50 day simple moving average of $79.84 and a two-hundred day simple moving average of $99.24.

Crane Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Wednesday, May 31st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, May 30th. Crane’s dividend payout ratio (DPR) is presently 9.54%.

Analyst Upgrades and Downgrades

CR has been the subject of several recent research reports. 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 report on Wednesday, April 5th. StockNews.com assumed coverage on shares of Crane in a report on Monday, May 29th. They issued a “buy” rating for the company. Finally, DA Davidson boosted their price objective on shares of Crane from $90.00 to $92.00 in a report on Friday, May 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $106.00.

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.