Truist Financial Corp Decreases Stake in Crane (NYSE:CR)

Truist Financial Corp cut its holdings in Crane (NYSE:CR) by 11.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 111,892 shares of the conglomerate’s stock after selling 13,808 shares during the quarter. Truist Financial Corp’s holdings in Crane were worth $13,219,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Fifth Third Bancorp boosted its position in Crane by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 99 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Crane by 0.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 66,664 shares of the conglomerate’s stock worth $7,876,000 after purchasing an additional 620 shares in the last quarter. Venture Visionary Partners LLC boosted its position in Crane by 3.0% during the fourth quarter. Venture Visionary Partners LLC now owns 27,491 shares of the conglomerate’s stock worth $3,248,000 after purchasing an additional 809 shares in the last quarter. Federated Hermes Inc. boosted its position in Crane by 17.4% during the fourth quarter. Federated Hermes Inc. now owns 5,460 shares of the conglomerate’s stock worth $645,000 after purchasing an additional 809 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in Crane by 1.5% during the fourth quarter. New York State Teachers Retirement System now owns 68,224 shares of the conglomerate’s stock worth $8,060,000 after purchasing an additional 978 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CR has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Bank of America boosted their price target on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. DA Davidson boosted their price target on Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, StockNews.com raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, April 27th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Crane presently has an average rating of “Moderate Buy” and a consensus target price of $137.00.

Crane Stock Performance

Crane stock opened at $139.50 on Thursday. The firm has a market capitalization of $7.96 billion, a P/E ratio of 37.40, a PEG ratio of 1.93 and a beta of 1.49. The stock has a fifty day moving average price of $132.10 and a 200 day moving average price of $117.54. Crane has a 52 week low of $67.28 and a 52 week high of $146.29. 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) last released its earnings results on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $565.30 million during the quarter, compared to analyst estimates of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. Equities research analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be paid a $0.205 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.82 annualized dividend and a yield of 0.59%. Crane’s payout ratio is currently 21.98%.

Crane Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.