Pacer Advisors Inc. Makes New $1.19 Million Investment in Crane $CR

by · The Cerbat Gem

Pacer Advisors Inc. bought a new position in Crane (NYSE:CR – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,450 shares of the conglomerate’s stock, valued at approximately $1,188,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Crane in the 2nd quarter worth approximately $190,533,000. Prudential Financial Inc. boosted its position in shares of Crane by 5,159.8% in the second quarter. Prudential Financial Inc. now owns 232,851 shares of the conglomerate’s stock worth $44,216,000 after buying an additional 228,424 shares during the period. AQR Capital Management LLC boosted its position in shares of Crane by 299.7% in the second quarter. AQR Capital Management LLC now owns 234,131 shares of the conglomerate’s stock worth $43,876,000 after buying an additional 175,554 shares during the period. Franklin Resources Inc. grew its holdings in shares of Crane by 117.5% during the second quarter. Franklin Resources Inc. now owns 216,314 shares of the conglomerate’s stock valued at $41,076,000 after buying an additional 116,881 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Crane by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 440,817 shares of the conglomerate’s stock valued at $67,524,000 after buying an additional 84,278 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CR. Stifel Nicolaus decreased their price objective on Crane from $202.00 to $200.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. CJS Securities upgraded shares of Crane to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Crane in a research report on Monday. DA Davidson set a $235.00 target price on shares of Crane in a research report on Thursday, October 30th. Finally, Wolfe Research set a $215.00 target price on shares of Crane and gave the company an “outperform” rating in a research note on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Crane currently has a consensus rating of “Buy” and a consensus target price of $221.83.

Get Our Latest Stock Analysis on CR

Crane Stock Performance

Shares of CR opened at $184.20 on Friday. The company’s fifty day moving average is $186.56 and its 200-day moving average is $186.73. Crane has a 12 month low of $127.04 and a 12 month high of $203.89. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR – Get Free Report) last released its quarterly earnings data on Monday, October 27th. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.18. The business had revenue of $589.20 million during the quarter, compared to analyst estimates of $578.54 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 EPS. Crane has set its FY 2025 guidance at 5.750-5.950 EPS. Equities analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 28th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, November 28th. Crane’s dividend payout ratio is 14.74%.

About Crane

(Free Report)

Crane Co, headquartered in Stamford, Connecticut, is a diversified manufacturer of engineered industrial products serving customers around the world. The company operates through two primary segments: Aerospace & Electronics and Engineered Materials. Its Aerospace & Electronics division designs and produces valves, fittings, manifolds, and filtration systems for aircraft fuel, hydraulics, and environmental control systems. The Engineered Materials segment focuses on advanced polymers, heat exchangers, and specialized composite solutions for industries including chemical processing, semiconductor manufacturing, and power generation.

With roots dating back to its founding in 1855 in Chicago by R.T.

See Also

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