Crane $CR Shares Sold by Hawk Ridge Capital Management LP

Hawk Ridge Capital Management LP decreased its position in shares of Crane (NYSE:CR) by 16.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 205,744 shares of the conglomerate’s stock after selling 41,656 shares during the period. Crane accounts for approximately 1.3% of Hawk Ridge Capital Management LP’s portfolio, making the stock its 29th largest holding. Hawk Ridge Capital Management LP owned approximately 0.36% of Crane worth $35,182,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Crane by 27.4% during the 1st quarter. Royal Bank of Canada now owns 22,060 shares of the conglomerate’s stock worth $3,379,000 after purchasing an additional 4,749 shares during the period. Goldman Sachs Group Inc. grew its position 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 valued at $67,524,000 after purchasing an additional 84,278 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Crane by 3.2% in 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 valued at $20,951,000 after purchasing an additional 4,217 shares during the last quarter. Focus Partners Wealth boosted its stake in Crane by 17.0% in the 1st quarter. Focus Partners Wealth now owns 1,696 shares of the conglomerate’s stock worth $257,000 after buying an additional 246 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in Crane in the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling at Crane

In other Crane news, Director Susan D. Lynch purchased 150 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $177.38 per share, with a total value of $26,607.00. Following the transaction, the director owned 370 shares in the company, valued at approximately $65,630.60. This trade represents a 68.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.12% of the company’s stock.

Crane Stock Up 0.2%

CR opened at $226.62 on Tuesday. Crane has a 1 year low of $159.58 and a 1 year high of $230.50. The firm has a 50 day moving average price of $205.58 and a 200 day moving average price of $194.44. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a market cap of $13.09 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, April 27th. The conglomerate reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.21. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $696.40 million during the quarter, compared to the consensus estimate of $672.74 million. During the same period in the previous year, the firm earned $1.39 earnings per share. Crane’s revenue for the quarter was up 24.9% on a year-over-year basis. Sell-side analysts expect that Crane will post 7.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CR shares. Wall Street Zen downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. DA Davidson reaffirmed a “buy” rating and set a $235.00 price target on shares of Crane in a research report on Monday, June 1st. Weiss Ratings downgraded shares of Crane from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Stifel Nicolaus lifted their price target on shares of Crane from $215.00 to $242.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, BMO Capital Markets initiated coverage on Crane in a report on Monday, July 20th. They set an “outperform” rating and a $253.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $234.00.

About Crane

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.