Crane (NYSE:CR) Holdings Decreased by CI Investments Inc.

CI Investments Inc. cut its holdings in Crane (NYSE:CR – Get Rating) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 945 shares of the conglomerate’s stock after selling 278 shares during the quarter. CI Investments Inc.’s holdings in Crane were worth $95,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in Crane in the third quarter worth about $31,000. Ronald Blue Trust Inc. increased its stake in Crane by 109.7% in the 4th quarter. Ronald Blue Trust Inc. now owns 390 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 204 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Crane in the 4th quarter worth about $39,000. Zions Bancorporation N.A. purchased a new position in Crane in the 1st quarter worth about $42,000. Finally, Concord Wealth Partners purchased a new position in Crane in the 4th quarter worth about $54,000. 70.83% of the stock is currently owned by institutional investors.

Crane Stock Up 1.6 %

Shares of CR stock opened at $75.62 on Friday. Crane has a 12 month low of $67.28 and a 12 month high of $83.00. The firm has a market cap of $4.29 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The stock has a 50 day moving average of $84.07 and a 200-day moving average of $100.52. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.95%. Crane’s dividend payout ratio (DPR) is presently 9.54%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CR. StockNews.com started coverage on Crane in a research note on Sunday, May 21st. They issued a “buy” rating on the stock. UBS Group lowered 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. Finally, DA Davidson lifted their target price on Crane from $90.00 to $92.00 in a research note on Friday, May 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insider Transactions at Crane

In other news, VP Edward S. Switter sold 49,409 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $119.88, for a total transaction of $5,923,150.92. Following the sale, the vice president now directly owns 25,174 shares in the company, valued at $3,017,859.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Crane news, 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 directly owns 25,174 shares in the company, valued at $3,017,859.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Max H. Mitchell sold 37,495 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $76.48, for a total value of $2,867,617.60. Following the completion of the sale, the chief executive officer now owns 322,628 shares in the company, valued at $24,674,589.44. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Crane Company Profile

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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.