Public Employees Retirement Association of Colorado Has $389,000 Stock Holdings in Crane (NYSE:CR)

Posted by Defense World Staff on Jun 11th, 2023

Public Employees Retirement Association of Colorado trimmed its stake in shares of Crane (NYSE:CR – Get Rating) by 56.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,868 shares of the conglomerate’s stock after selling 5,076 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Crane were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CR. Louisiana State Employees Retirement System lifted its position in shares of Crane by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the conglomerate’s stock worth $1,286,000 after buying an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Crane by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,050 shares of the conglomerate’s stock worth $1,411,000 after buying an additional 108 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Crane by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,919 shares of the conglomerate’s stock worth $896,000 after buying an additional 108 shares during the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of Crane by 2.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 5,030 shares of the conglomerate’s stock worth $505,000 after buying an additional 122 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Crane by 14.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate’s stock worth $116,000 after buying an additional 133 shares during the last quarter. 70.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com began coverage on Crane in a research report on Tuesday, June 6th. They set a “hold” rating for the company. DA Davidson upped their target price on Crane from $90.00 to $92.00 in a report on Friday, May 12th. Finally, UBS Group lowered their target price on Crane from $120.00 to $82.00 and set a “neutral” rating for the company in a report on Wednesday, April 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Crane Trading Up 1.0 %

Shares of CR stock opened at $80.69 on Friday. The stock has a 50-day moving average of $76.68 and a 200-day moving average of $98.39. Crane has a 1-year low of $67.28 and a 1-year high of $83.00. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.93 and a beta of 1.49. 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 (NYSE:CR – Get Rating) last released its earnings results on Wednesday, May 10th. The conglomerate reported $1.25 EPS for the quarter, topping the consensus estimate of $0.84 by $0.41. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $513.80 million during the quarter, compared to analysts’ expectations of $483.80 million. On average, equities research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 8th. Shareholders of record on Wednesday, May 31st were issued a $0.18 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.72 annualized dividend and a yield of 0.89%. Crane’s payout ratio is currently 9.54%.

Insiders Place Their Bets

In other Crane news, CEO Max H. Mitchell sold 37,495 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $76.48, for a total value of $2,867,617.60. Following the transaction, the chief executive officer now owns 322,628 shares in the company, valued at $24,674,589.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Crane 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.