Oak Thistle LLC Increases Stake in Crane Holdings
Oak Thistle LLC has significantly increased its investment in Crane Company (NYSE:CR) by 242.7% during the fourth quarter of the year. This increase was confirmed in their latest 13F filing with the Securities and Exchange Commission. By the end of the quarter, Oak Thistle LLC owned a total of 6,778 shares of Crane's stock, following an acquisition of an additional 4,800 shares.
The current market value of Oak Thistle's holdings in Crane is approximately $1,029,000.
Recent Institutional Investments
Several other institutional investors have also recently adjusted their stakes in Crane. For instance, Y Intercept Hong Kong Ltd acquired a new position in Crane shares during the third quarter, which is valued at about $515,000. Meanwhile, AQR Capital Management LLC increased its holdings by 11.9% in the second quarter, bringing their total to 192,452 shares valued at $27,902,000 after purchasing an additional 20,518 shares.
Envestnet Asset Management Inc. raised its stake by 4.0% in the same quarter, owning 112,797 shares valued at $16,353,000 after adding 4,355 shares. Notably, American Century Companies Inc. expanded its holdings by a staggering 673.2% in the second quarter, now owning 82,172 shares worth $11,913,000 after acquiring an additional 71,544 shares. Lastly, Driehaus Capital Management LLC grew its position by 12.5%, owning 384,588 shares valued at $55,758,000 after purchasing an extra 42,743 shares. In total, institutional investors and hedge funds hold approximately 75.14% of Crane's stock.
Crane Stock Performance Analysis
On Thursday, Crane's stock opened at $154.75. The fifty-day moving average stands at $166.64, with the two-hundred-day moving average at $157.50. The company boasts a market capitalization of $8.86 billion, alongside a price-to-earnings ratio of 20.50, a PEG ratio of 1.93, and a beta value of 1.22. Its debt-to-equity ratio is 0.29, with a quick ratio of 0.88 and a current ratio of 1.18. Over the past year, Crane's stock price has fluctuated between a low of $110.49 and a high of $188.52.
Quarterly Earnings Report
Crane recently released its quarterly earnings data, revealing earnings of $1.38 per share for the quarter, surpassing analysts' expectations of $1.32 by $0.06. Crane's net margin stands at 13.10%, with a return on equity of 24.45%. The company reported quarterly revenue of $597.20 million, exceeding the consensus estimate of $594.45 million, and showing an increase of 12.7% year-over-year from last year's earnings of $1.03 per share.
Dividends and Shareholder Returns
The company has also announced a quarterly dividend paid on December 11. A dividend of $0.205 was distributed to investors who were on record as of November 29, translating to an annualized total dividend of $0.82 and a yield of 0.53%. The ex-dividend date was November 29, and Crane's dividend payout ratio currently stands at 18.06%.
Analyst Recommendations and Price Targets
Recent reports from equity analysts have influenced Crane's stock outlook. UBS Group increased their price target from $152.00 to $157.00, assigning a "neutral" rating, while Deutsche Bank raised their target from $175.00 to $182.00 with a "buy" rating. In contrast, Stifel Nicolaus downgraded Crane from a "buy" to a "hold" recommendation, setting a price goal of $176.00. Overall, two analysts have suggested holding the stock, while five recommend buying it. Analysts have given Crane a consensus rating of "Moderate Buy" with a target price of $168.00.
About Crane Company
Crane Company, with its various subsidiaries, specializes in manufacturing and selling engineered industrial products both in the United States and on an international scale. The company operates under three main divisions: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.
Oak, Thistle, Crane