Rhumbline Advisers Sells 1,058 Shares of Crane (NYSE:CR)

Posted by on Sep 1st, 2023

Rhumbline Advisers cut its stake in Crane (NYSE:CR – Free Report) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,724 shares of the conglomerate’s stock after selling 1,058 shares during the period. Rhumbline Advisers owned about 0.25% of Crane worth $16,313,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Money Concepts Capital Corp bought a new position in Crane during the 4th quarter worth about $25,000. Allworth Financial LP grew its holdings in Crane by 769.2% during the 1st quarter. Allworth Financial LP now owns 226 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Orion Capital Management LLC bought a new position in Crane during the 1st quarter worth about $28,000. Amundi bought a new position in Crane during the 4th quarter worth about $32,000. Finally, FNY Investment Advisers LLC bought a new position in Crane during the 1st quarter worth about $35,000. 26.26% of the stock is currently owned by institutional investors.

Crane Stock Up 0.7 %

NYSE:CR opened at $91.08 on Friday. The company has a market cap of $5.17 billion, a PE ratio of 12.06, a P/E/G ratio of 1.93 and a beta of 1.49. Crane has a twelve month low of $67.28 and a twelve month high of $95.21. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $89.22 and its two-hundred day moving average is $90.81.

Crane (NYSE:CR – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.10 EPS for the quarter, topping the consensus estimate of $0.91 by $0.19. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $509.60 million during the quarter, compared to the consensus estimate of $524.65 million. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. 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 will be paid on Wednesday, September 13th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 0.79%. Crane’s payout ratio is currently 9.54%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CR shares. DA Davidson increased their price target on shares of Crane from $92.00 to $107.00 in a research report on Thursday, July 27th. Stifel Nicolaus increased their price target on shares of Crane from $87.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, StockNews.com started coverage on shares of Crane in a research report on Thursday, August 17th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.75.

Read Our Latest Analysis on Crane

About Crane

(Free Report)

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the Americas, Europe, the Middle East, Asia, and Australia. The company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials.

Read More

Institutional Ownership by Quarter for Crane (NYSE:CR)

Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.