Crane (NYSE:CR) Posts Earnings Results, Beats Expectations By $0.23 EPS

Crane (NYSE:CR – Get Rating) issued its earnings results on Monday. The conglomerate reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23, MarketWatch Earnings reports. Crane had a net margin of 13.10% and a return on equity of 24.93%. The company had revenue of $824.10 million for the quarter, compared to analysts’ expectations of $819.89 million. During the same quarter last year, the company earned $1.25 EPS. The firm’s revenue was down .1% compared to the same quarter last year.

Crane Trading Up 4.8 %

Shares of CR opened at $115.50 on Wednesday. Crane has a 1-year low of $82.14 and a 1-year high of $116.11. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.45 and a beta of 1.51. The firm’s 50-day moving average price is $103.55 and its 200-day moving average price is $99.03. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Stockholders of record on Tuesday, February 28th will be given a $0.47 dividend. The ex-dividend date is Monday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.63%. Crane’s dividend payout ratio is 27.25%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. DA Davidson lifted their price objective on Crane from $130.00 to $140.00 in a report on Wednesday. Morgan Stanley raised Crane from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $116.00 to $129.00 in a research note on Monday, December 12th. TheStreet raised Crane from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. StockNews.com downgraded shares of Crane from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 26th. Finally, Stifel Nicolaus dropped their price target on shares of Crane from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $128.75.

Insider Buying and Selling

In other Crane news, SVP Kurt F. Gallo sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $105.53, for a total transaction of $290,207.50. Following the transaction, the senior vice president now owns 25,845 shares in the company, valued at approximately $2,727,422.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Crane news, CFO Richard A. Maue sold 5,907 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $104.31, for a total transaction of $616,159.17. Following the completion of the transaction, the chief financial officer now owns 79,147 shares of the company’s stock, valued at $8,255,823.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kurt F. Gallo sold 2,750 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $105.53, for a total transaction of $290,207.50. Following the completion of the sale, the senior vice president now directly owns 25,845 shares in the company, valued at $2,727,422.85. The disclosure for this sale can be found here. Insiders sold a total of 151,409 shares of company stock valued at $15,809,162 over the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Crane

Several hedge funds have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky bought a new stake in Crane during the third quarter worth about $654,000. Captrust Financial Advisors boosted its stake in Crane by 69.8% during the third quarter. Captrust Financial Advisors now owns 2,832 shares of the conglomerate’s stock worth $248,000 after acquiring an additional 1,164 shares in the last quarter. BNP Paribas Arbitrage SNC bought a new stake in Crane during the third quarter worth about $407,000. Vanguard Group Inc. boosted its stake in Crane by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,472,630 shares of the conglomerate’s stock worth $391,534,000 after acquiring an additional 56,773 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Crane by 10.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 28,669 shares of the conglomerate’s stock worth $2,511,000 after acquiring an additional 2,619 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.

About Crane

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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.