StockNews.com Begins Coverage on Crane (NYSE:CR)

Investment analysts at StockNews.com assumed coverage on shares of Crane (NYSE:CR – Get Rating) in a report issued on Sunday. The firm set a “buy” rating on the conglomerate’s stock.

Several other research analysts also recently weighed in on CR. UBS Group dropped their target price on Crane from $120.00 to $82.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 5th. DA Davidson upped their price target on Crane from $90.00 to $92.00 in a report on Friday, May 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crane Trading Down 0.3 %

Shares of NYSE CR opened at $74.45 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $87.15 and a two-hundred day simple moving average of $101.27. The firm has a market cap of $4.22 billion, a PE ratio of 9.86, a price-to-earnings-growth 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 $83.00.

Insider Buying and Selling

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 stock was sold at an average price of $76.48, for a total transaction of $2,867,617.60. Following the sale, the chief executive officer now owns 322,628 shares of the company’s stock, valued at approximately $24,674,589.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Crane news, CEO Max H. Mitchell sold 37,495 shares of the business’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Edward S. Switter sold 49,409 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $119.88, for a total value of $5,923,150.92. Following the sale, the vice president now owns 25,174 shares of the company’s stock, valued at $3,017,859.12. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Crane

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CR. Raymond James Financial Services Advisors Inc. raised its holdings in Crane by 8.0% during the first 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. lifted its stake in shares of Crane by 3.0% in the 1st quarter. American Century Companies Inc. now owns 10,432 shares of the conglomerate’s stock valued at $1,129,000 after purchasing an additional 299 shares during the last quarter. HighTower Advisors LLC lifted its position 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. lifted its position 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 lifted its position 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 owned by hedge funds and other institutional investors.

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.