Crane Holdings, Co. (NYSE:CR) Stock Sold by Truist Financial Corp
Truist Financial Corp reduced its position in Crane Holdings, Co. (NYSE: CR – Get Rating) by 9.8% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The institutional investor held 183,921 shares of the conglomerate after selling 19,922 shares during the period. Truist Financial Corp’s holdings in Crane were worth $19,915,000 when it last filed with the SEC.
Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. ProShare Advisors LLC increased its position in Crane by 29.7% during the 4th quarter. ProShare Advisors LLC now owns 4,757 shares of the conglomerate worth $485,000 after acquiring 1,089 additional shares last quarter. Cambridge Investment Research Advisors Inc. raised its position in Crane by 6.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 4,495 shares of the conglomerate worth $457,000 after acquiring 292 additional shares last quarter. Toth Financial Advisory Corp increased its position in Crane by 75.0% during the fourth quarter. Toth Financial Advisory Corp now owns 1,050 shares of the conglomerate worth $107,000 after acquiring 450 more shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Crane during Q4 worth approximately $121,000. Finally, Covestor Ltd acquired a new position in Crane during Q4 worth approximately $80,000. 73.16% of the shares are currently held by institutional investors and hedge funds.
NYSE CR shares opened at $90.03 on Friday. Crane Holdings, Co. has a 12-month low of $82.14 and a 12-month high of $114.87. The company has a current ratio of 2.07, a quick ratio of 1.48 and a debt ratio of 0.49. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 12.30, a growth price-to-earnings ratio of 1.34 and a beta of 1.58. The company has a 50-day simple moving average of $91.43 and a 200-day simple moving average of $99.37.
Crane (NYSE:CR – Get Rating) last released its quarterly results on Monday, April 25. The conglomerate reported earnings per share of $1.81 for the quarter, beating consensus analyst estimates of $1.68 by $0.13. Crane had a return on equity of 22.54% and a net margin of 13.49%. The company posted revenue of $801.10 million in the quarter, versus a consensus estimate of $800.76 million. During the same period of the previous year, the company achieved EPS of $1.66. The company’s quarterly revenue increased 2.8% year over year. As a group, stock analysts predict Crane Holdings, Co. will post 7.6 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 8. Shareholders of record on Tuesday, May 31 received a dividend of $0.47. The ex-dividend date was Friday, May 27. This represents a dividend of $1.88 on an annualized basis and a dividend yield of 2.09%. Crane’s dividend payout ratio (DPR) is 25.68%.
Several equity research analysts have published reports on CR shares. StockNews.com downgraded Crane from a “Strong Buy” rating to a “Buy” rating in a Wednesday, April 27, report. Stifel Nicolaus lowered his price target on Crane from $137.00 to $134.00 in a Monday, April 18 report. One investment analyst gave the stock a hold rating and four gave the company’s stock a buy rating. According to data from MarketBeat.com, Crane currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.
About the crane (Get an evaluation)
Crane Holdings Co, together with its subsidiaries, manufactures and sells technical industrial products in America, Europe, the Middle East, Asia and Australia. The company has four business segments: aerospace and electronics, process flow technologies, payment and merchandising technologies, and engineered materials.
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