The State of New Jersey Common Pension Fund D disposed of 5.5% of the shares of Crane Holdings, Co. (NYSE: C.R.) that it held during the third quarter, as stated in the most recent filing it made with the SEC. Following the transaction during that period, the institutional investor had 23,793 of the company’s shares. This transaction resulted in the sale of 1,381 of the conglomerate’s shares. In the most recent report that was submitted to the Securities and Exchange Commission by the State of New Jersey Common Pension Fund D, it was stated that it was believed that Crane had a value of $2,083,000 at the time (SEC).
Several additional significant investors have also changed the proportion of the company’s shares they own. During the second quarter of the fiscal year, Pinebridge Investments L.P. increased the percentage of Crane shares it owned by 237.0%. After purchasing an additional 237 shares during the most recent quarter, Pinebridge Investments L.P. now has a total of 337 shares of the conglomerate’s stock, which are worth a combined sum of $30,000. This brings the total number of shares that Pinebridge Investments L.P. currently owns to 337. The Washington Trust Company established a new branch in Crane during the third quarter, allocating approximately 35,000 dollars toward the endeavor. Zions Bancorporation N.A. increased the total amount of Crane owned by an additional $42,000 over the year’s first three months. CoreCap Advisors LLC incurred a total cost of approximately $45,000 to purchase a new stake in Crane during the year’s second quarter. At the end of the third quarter, Wipfli Financial Advisors LLC hired a new Crane employee at approximately $67,000. Institutional investors and hedge funds currently own 70.83% of the company’s stock.
In recent times, the company has received feedback from a variety of research analysts. This information has been received. Morgan Stanley upgraded Crane from an “equal weight” rating to an “overweight” rating in a research report published on December 12 and made available to the general public. In addition, they increased the price objective they had previously set for the stock to $129.00, which is an increase from the previous price of $116.00. The rating for Crane was raised, moving from a “c+” to a “b-” as a result of a research study made available by TheStreet on November 10. Stifel Nicolaus recommended purchasing the company’s stock in a report published on Tuesday, October 11. However, in the same report, the brokerage lowered its price target for Crane from $123,000 to $121,000. A “buy” recommendation was also included in the report for the company.
Last but not least, in a research report published on October 26, StockNews.com changed its recommendation for Crane from a “strong-buy” rating to a “buy” rating. Four separate industry experts have weighed in on the situation and advised investors to buy the shares. According to information from Bloomberg.com, the current average rating for Crane is “buy,” and the website reports that the consensus price objective is $125.00. In addition, the website reports that the price target is currently $125.00.
According to additional Crane news, Senior Vice President Kurt F. Gallo sold 2,750 shares of the company’s stock on November 23. Crane reported this information. The shares were sold at a volume that resulted in a total sale volume of 290,207.50 dollars, and the average price per share received was $105.53. As a result of the successful completion of the transaction, the senior vice president now directly owns 25,845 com