SG Americas Securities LLC reduced its position in Crane Holdings, Co. (NYSE: CR – Get a rating) by 20.3% in the third quarter, according to the company in its most recent Form 13F filed with the Securities and Exchange Commission. The fund held 9,768 shares of the conglomerate after selling 2,491 shares during the quarter. SG Americas Securities LLC’s holdings in Crane were worth $855,000 when it last filed with the Securities and Exchange Commission.
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Other large investors have also changed their stake in the company. Van ECK Associates Corp increased its holdings of Crane shares 9.9% in the third quarter. Van ECK Associates Corp now owns 1,446 shares of the conglomerate valued at $127,000 after buying 130 more shares in the last quarter. Lazard Asset Management LLC increased its holdings of Crane shares by 14.1% in the first quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate valued at $116,000 after buying 133 additional shares in the last quarter. Bank of Montreal Can increased its holdings of Crane shares by 1.1% in the first quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate valued at $1,408,000 after buying an additional 136 shares in the last quarter. Baird Financial Group Inc. increased its holding in Crane shares by 1.0% in the first quarter. Baird Financial Group Inc. now owns 15,765 shares of the conglomerate valued at $1,707,000 after purchasing an additional 152 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its shareholding in Crane by 29.7% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 825 shares of the conglomerate valued at $72,000 after buying 189 additional shares in the last quarter. 70.83% of the shares are held by institutional investors and hedge funds.
Crane Trading down 1.6%
Shares of Crane equipment opened at $105.69 on Friday. Crane Holdings, Co. has a 52-week low of $82.14 and a 52-week high of $114.87. The company has a quick ratio of 0.97, a current ratio of 1.38 and a leverage ratio of 0.49. The company’s 50-day simple moving average is $103.18 and its 200-day simple moving average is $98.44. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 15.32, a growth price-to-earnings ratio of 1.42 and a beta of 1.51.
Crane (NYSE: CR – Get a rating) last released its quarterly earnings data on Monday, October 24. The conglomerate reported EPS of $1.86 for the quarter, beating analyst consensus estimates of $1.85 by $0.01. The company posted revenue of $815.00 million for the quarter, versus a consensus estimate of $816.62 million. Crane had a net margin of 12.25% and a return on equity of 22.03%. The company’s revenue was down 8.8% year over year. In the same quarter a year earlier, the company earned earnings per share of $1.89. As a group, equity research analysts expect Crane Holdings, Co. to post earnings per share of 7.65 for the current year.
Analyst upgrades and downgrades
A number of brokerages have recently commented on the CR. StockNews.com cut Crane shares from a “strong buy” rating to a “buy” rating in a report on Wednesday, October 26. TheStreet upgraded Crane’s shares from a “c+” rating to a “b-” rating in a Thursday, November 10 research note. Morgan Stanley upgraded Crane shares from an ‘equal weight’ rating to an ‘overweight’ rating and raised its price target for the stock from $116.00 to $129.00 in a research note Monday, December 12. Finally, Stifel Nicolaus lowered his price target on Crane shares from $123.00 to $121.00 and placed a “buy” rating on the stock in a Tuesday, October 11 research note. Four investment analysts have rated the stock with a buy rating. According to data from MarketBeat, Crane currently has a consensus rating of “Buy” and an average target price of $125.00.
Insider buying and selling
Separately, CEO Max H. Mitchell sold 117,103 shares of the company in a trade dated Monday, Nov. 7. The shares were sold at an average price of $104.40, for a total transaction of $12,225,553.20. Following the sale, the CEO now owns 347,460 shares of the company, valued at $36,274,824. The transaction was disclosed in a legal filing with the SEC, accessible via this link. In other Crane news, CEO Max H. Mitchell sold 117,103 shares of Crane in a trade dated Monday, Nov. 7. The shares were sold at an average price of $104.40, for a total transaction of $12,225,553.20. Following completion of the transaction, the CEO now owns 347,460 shares of the company, valued at $36,274,824. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, please Kurt F. Gallo sold 2,750 shares of Crane in a trade dated Wednesday, November 23. The stock was sold at an average price of $105.53, for a total transaction of $290,207.50. As a result of the transaction, the senior vice president now owns 25,845 shares of the company, valued at approximately $2,727,422.85. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 151,409 shares of the company valued at $15,809,162. Company insiders hold 2.40% of the company’s shares.
Crane profile
Crane Holdings Co engages in the management of a subsidiary, which manufactures aerospace equipment, electronic systems and flow control systems. The company was founded on December 2, 2021 and is headquartered in Stamford, CT.
Further reading
Want to see which other hedge funds hold VCs? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crane Holdings, Co. (NYSE: CR – Get a rating).
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