Allspring Global Investments Holdings LLC Boosts Stock Holdings in Crane (NYSE:CR)

Allspring Global Investments Holdings LLC grew its position in Crane (NYSE:CR) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,012 shares of the conglomerate’s stock after acquiring an additional 3,500 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of Crane worth $10,765,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Griffin Asset Management Inc. boosted its position in shares of Crane by 0.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 34,038 shares of the conglomerate’s stock valued at $5,388,000 after acquiring an additional 90 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Crane by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock worth $529,000 after purchasing an additional 94 shares during the period. UMB Bank n.a. boosted its holdings in Crane by 81.8% in the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 99 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Crane by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock valued at $1,176,000 after buying an additional 104 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Crane by 29.9% during the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock valued at $66,000 after buying an additional 112 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus increased their price target on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.33.

Crane Trading Down 1.0 %

CR opened at $149.06 on Friday. Crane has a 52 week low of $90.91 and a 52 week high of $163.48. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $154.09 and a 200-day simple moving average of $148.09. The firm has a market cap of $8.52 billion, a P/E ratio of 39.96, a P/E/G ratio of 1.93 and a beta of 0.77.

Crane (NYSE:CR) last announced its earnings results on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. The company had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. On average, equities analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane 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.