Crane (NYSE:CR) Issues Earnings Results

Crane (NYSE:CR) released its quarterly earnings results on Monday. The conglomerate reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.10, FiscalAI reports. The firm had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $572.16 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.

Crane Stock Up 2.7%

Shares of NYSE CR traded up $5.58 during midday trading on Monday, hitting $209.82. The stock had a trading volume of 866,913 shares, compared to its average volume of 337,490. The business’s 50 day moving average is $190.51 and its 200-day moving average is $188.49. Crane has a 52 week low of $127.04 and a 52 week high of $214.31. 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 company has a market cap of $12.08 billion, a P/E ratio of 27.79, a PEG ratio of 1.93 and a beta of 1.24.

Institutional Trading of Crane

A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in Crane by 27.4% during the first quarter. Royal Bank of Canada now owns 22,060 shares of the conglomerate’s stock valued at $3,379,000 after acquiring an additional 4,749 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Crane by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 440,817 shares of the conglomerate’s stock worth $67,524,000 after buying an additional 84,278 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Crane by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,776 shares of the conglomerate’s stock worth $20,951,000 after acquiring an additional 4,217 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Crane by 17.0% during the first quarter. Focus Partners Wealth now owns 1,696 shares of the conglomerate’s stock worth $257,000 after acquiring an additional 246 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Crane during the second quarter valued at $207,000. 75.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CR has been the subject of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Crane in a research report on Monday, December 29th. DA Davidson set a $235.00 price target on shares of Crane in a report on Thursday, October 30th. Stifel Nicolaus increased their price target on shares of Crane from $200.00 to $201.00 and gave the company a “hold” rating in a research report on Friday. Wolfe Research set a $215.00 price objective on shares of Crane and gave the company an “outperform” rating in a research note on Thursday, December 4th. Finally, CJS Securities upgraded shares of Crane to a “strong-buy” rating in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $222.00.

Crane Company Profile

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.