Crane (NYSE:CR) Posts Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Crane (NYSE:CR – Get Rating) issued its earnings results on Monday. The conglomerate reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.23, MarketWatch Earnings reports. Crane had a return on equity of 22.03% and a net margin of 12.25%. The company had revenue of $824.10 million for the quarter, compared to the consensus estimate of $819.89 million. During the same quarter last year, the company earned $1.25 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis.

Crane Trading Up 1.8 %

Shares of NYSE:CR traded up $1.94 during trading on Monday, reaching $110.16. The company’s stock had a trading volume of 392,819 shares, compared to its average volume of 309,646. The stock has a market capitalization of $6.18 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. Crane has a 12 month low of $82.14 and a 12 month high of $114.87. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The firm’s 50 day simple moving average is $103.26 and its two-hundred day simple moving average is $98.71.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of Crane from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. Stifel Nicolaus cut their price objective on Crane from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. StockNews.com downgraded Crane from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 26th. Finally, Morgan Stanley upgraded Crane from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $116.00 to $129.00 in a report on Monday, December 12th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Crane presently has a consensus rating of “Buy” and an average price target of $125.00.

Insiders Place Their Bets

In other news, SVP Kurt F. Gallo sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $105.53, for a total transaction of $290,207.50. Following the transaction, the senior vice president now owns 25,845 shares of the company’s stock, valued at approximately $2,727,422.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Crane news, CEO Max H. Mitchell sold 117,103 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $104.40, for a total value of $12,225,553.20. Following the completion of the sale, the chief executive officer now owns 347,460 shares of the company’s stock, valued at $36,274,824. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kurt F. Gallo sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $105.53, for a total value of $290,207.50. Following the transaction, the senior vice president now directly owns 25,845 shares in the company, valued at approximately $2,727,422.85. The disclosure for this sale can be found here. Insiders have sold 151,409 shares of company stock valued at $15,809,162 over the last ninety days. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Crane

A number of hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation N.A. purchased a new position in shares of Crane during the first quarter valued at $42,000. Lazard Asset Management LLC raised its holdings in shares of Crane by 14.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 133 shares in the last quarter. Covestor Ltd lifted its position in shares of Crane by 92.5% in the 1st quarter. Covestor Ltd now owns 1,511 shares of the conglomerate’s stock worth $164,000 after purchasing an additional 726 shares during the period. Captrust Financial Advisors boosted its stake in shares of Crane by 22.7% during the first quarter. Captrust Financial Advisors now owns 1,743 shares of the conglomerate’s stock valued at $189,000 after purchasing an additional 322 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in Crane during the first quarter valued at approximately $200,000. 70.83% of the stock is currently owned by institutional investors.

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.