Oak Thistle LLC Increases Shareholding in Crane (NYSE:CR)

Oak Thistle LLC has significantly increased its investment in Crane (NYSE:CR). According to the latest 13F filing submitted to the Securities & Exchange Commission, this investment surge occurred during the fourth quarter, with Oak Thistle increasing its holdings by an impressive 242.7%. After acquiring an additional 4,800 shares, the fund now owns a total of 6,778 shares of Crane, which were valued at approximately $1,029,000 at the close of the quarter.

Other Institutional Investments

In addition to Oak Thistle, other institutional investors have also made notable adjustments to their positions in Crane. For instance, Y Intercept Hong Kong Ltd entered a new investment in Crane during the third quarter, valued at around $515,000. AQR Capital Management LLC increased its shareholding by 11.9% in the second quarter, bringing its total to 192,452 shares valued at $27,902,000 after an acquisition of 20,518 additional shares. Envestnet Asset Management Inc. raised its stake by 4.0% during the same quarter, bringing its holdings to 112,797 shares worth $16,353,000 after buying 4,355 additional shares. American Century Companies Inc. made a significant leap in its investment with a 673.2% increase in the second quarter, acquiring 71,544 additional shares to own 82,172 shares valued at $11,913,000. Finally, Driehaus Capital Management LLC grew its position by 12.5% during the second quarter, now holding 384,588 shares worth approximately $55,758,000. Overall, institutional investors and hedge funds collectively control 75.14% of Crane's stock.

Recent Stock Performance

Crane's stock was priced at $154.75 as of Thursday. The company's fifty-day moving average stands at $166.64, while its two-hundred-day moving average is $157.50. Crane has a market capitalization of $8.86 billion, with a price-to-earnings ratio of 20.50 and a PEG ratio of 1.93, along with a beta of 1.22. The firm holds a debt-to-equity ratio of 0.29, a quick ratio of 0.88, and a current ratio of 1.18. Over the past year, the stock has fluctuated, registering a low of $110.49 and a high of $188.52.

Crane's Financial Performance

On October 28th, Crane reported its quarterly earnings, revealing earnings per share of $1.38, surpassing analysts' expectations of $1.32 by $0.06. The company achieved a net margin of 13.10% and a return on equity of 24.45%. Revenue for the quarter reached $597.20 million, exceeding the consensus estimate of $594.45 million. Notably, this reflects a 12.7% increase in revenue compared to the same quarter the previous year. Furthermore, analysts project that Crane will post earnings of $7.87 per share for the current fiscal year.

Dividends Declared

Crane has also recently announced a quarterly dividend, which was paid on December 11th. Those who were recorded as investors on November 29th received a dividend of $0.205 per share. This results in an annualized dividend rate of $0.82, equating to a yield of 0.53%. The ex-dividend date for this payment was November 29th, and the company's dividend payout ratio stands at 18.06%.

Analytical Insights

Several equity research analysts have provided updates on Crane's stock recently. UBS Group raised its price target from $152.00 to $157.00, maintaining a "neutral" rating in its report dated January 3rd. Deutsche Bank also increased its price target, moving it from $175.00 to $182.00, while issuing a "buy" rating on October 3rd. Conversely, Stifel Nicolaus downgraded Crane from a "buy" to a "hold" rating, setting a target price of $176.00 as of November 18th. Currently, two analysts rate the stock as a hold, while five analysts recommend it as a buy. MarketBeat indicates that there is a consensus rating of "Moderate Buy" for Crane, with an average price target of $168.00.

About Crane Company

Crane Company, along with its subsidiaries, specializes in the manufacturing and selling of engineered industrial products across the United States, Canada, the United Kingdom, Continental Europe, and globally. The company operates through three primary segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.

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