Corebridge Financial Inc. Sells 2,461 Shares of Crane (NYSE:CR)

Corebridge Financial Inc. trimmed its holdings in Crane (NYSE:CR) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,047 shares of the conglomerate’s stock after selling 2,461 shares during the quarter. Corebridge Financial Inc.’s holdings in Crane were worth $8,353,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Crane by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 4,695,440 shares of the conglomerate’s stock valued at $712,533,000 after purchasing an additional 14,373 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Crane in the fourth quarter worth about $1,502,000. American Century Companies Inc. boosted its stake in Crane by 2.7% during the fourth quarter. American Century Companies Inc. now owns 323,272 shares of the conglomerate’s stock valued at $49,057,000 after buying an additional 8,552 shares during the last quarter. Quantbot Technologies LP grew its holdings in Crane by 112.2% during the 4th quarter. Quantbot Technologies LP now owns 16,372 shares of the conglomerate’s stock valued at $2,484,000 after buying an additional 8,655 shares in the last quarter. Finally, Xponance Inc. increased its stake in Crane by 4.8% in the 4th quarter. Xponance Inc. now owns 5,531 shares of the conglomerate’s stock worth $839,000 after acquiring an additional 252 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus lowered their target price on Crane from $176.00 to $170.00 and set a “hold” rating for the company in a research report on Friday, January 24th. StockNews.com lowered shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. UBS Group lifted their price objective on shares of Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Finally, DA Davidson restated a “buy” rating and set a $200.00 target price on shares of Crane in a research report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.80.

Crane Stock Down 0.0 %

NYSE CR opened at $156.02 on Friday. 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 has a 52 week low of $128.50 and a 52 week high of $188.52. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.93 and a beta of 1.30. The company has a fifty day moving average of $162.39 and a two-hundred day moving average of $161.81.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were paid a dividend of $0.23 per share. This is a boost from Crane’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, February 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. Crane’s dividend payout ratio is currently 18.18%.

Insider Activity

In other news, VP Alejandro Alcala sold 2,293 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction of $392,011.28. Following the completion of the sale, the vice president now directly owns 32,963 shares of the company’s stock, valued at approximately $5,635,354.48. The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.