Crane (NYSE:CR) Now Covered by StockNews.com

Posted by on Jun 6th, 2023

Equities research analysts at StockNews.com started coverage on shares of Crane (NYSE:CR – Get Rating) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the conglomerate’s stock.

Several other analysts also recently commented on CR. UBS Group reduced 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. DA Davidson lifted their price objective on shares of Crane from $90.00 to $92.00 in a research note on Friday, May 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Crane Stock Performance

Shares of CR opened at $75.07 on Tuesday. The firm has a 50-day moving average of $79.18 and a 200-day moving average of $99.05. Crane has a one year low of $67.28 and a one year high of $83.00. The company has a market cap of $4.26 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Insider Activity

In other news, CEO Max H. Mitchell sold 37,495 shares of the business’s 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 transaction, the chief executive officer now directly owns 322,628 shares in the company, valued at approximately $24,674,589.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Crane

A number of institutional investors have recently added to or reduced their stakes in CR. Raymond James Financial Services Advisors Inc. increased its position in Crane by 8.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,853 shares of the conglomerate’s stock worth $1,608,000 after purchasing an additional 1,104 shares in the last quarter. American Century Companies Inc. increased its position in Crane by 3.0% during the 1st quarter. American Century Companies Inc. now owns 10,432 shares of the conglomerate’s stock worth $1,129,000 after purchasing an additional 299 shares in the last quarter. HighTower Advisors LLC grew its holdings in Crane by 82.1% during the 1st quarter. HighTower Advisors LLC now owns 4,102 shares of the conglomerate’s stock worth $445,000 after acquiring an additional 1,849 shares during the last quarter. Citigroup Inc. grew its holdings in Crane by 4.7% during the 1st quarter. Citigroup Inc. now owns 7,856 shares of the conglomerate’s stock worth $851,000 after acquiring an additional 355 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Crane by 1.1% during the 1st quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate’s stock worth $1,408,000 after acquiring an additional 136 shares during the last quarter. 70.83% of the stock is currently owned by institutional investors and hedge funds.

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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