FMR LLC & Abigail Johnson Boost Crane Co. Stake to 10.974%
Ticker: CR · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 1944013
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amendment, investor-confidence
TL;DR
**FMR LLC and Abigail Johnson now own 10.974% of Crane Co., showing strong conviction.**
AI Summary
FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have filed an amended SC 13G/A for Crane Co. As of December 31, 2023, they collectively beneficially own 6,235,374 shares of Crane Co. common stock, representing 10.974% of the company's outstanding shares. This filing indicates a slight increase in their reported beneficial ownership compared to previous filings, signaling continued confidence in Crane Co. from a significant institutional investor.
Why It Matters
This filing shows that a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, maintain a significant and slightly increased stake in Crane Co., which can be seen as a vote of confidence for current and potential shareholders.
Risk Assessment
Risk Level: low — This filing indicates a stable or slightly increased institutional ownership, which generally reduces risk by showing investor confidence.
Analyst Insight
A smart investor would view this continued and slightly increased stake by a major institutional investor like FMR LLC as a positive signal, potentially reinforcing a decision to hold or consider buying Crane Co. stock, but should still conduct their own due diligence.
Key Numbers
- 6,235,374 — Shares Beneficially Owned (Represents the total number of Crane Co. common shares FMR LLC and Abigail P. Johnson collectively own as of the filing date.)
- 10.974% — Percent of Class (Indicates the significant portion of Crane Co.'s common stock controlled by FMR LLC and Abigail P. Johnson.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- Crane Co. (company) — the issuer of the securities
- 6,235,374 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 10.974% (dollar_amount) — percentage of Crane Co. common stock beneficially owned
Forward-Looking Statements
- FMR LLC will maintain its significant stake in Crane Co. over the next year. (FMR LLC) — high confidence, target: 2025-02-09
- The continued institutional ownership by FMR LLC will contribute to investor confidence in Crane Co. (Crane Co.) — medium confidence, target: 2024-08-09
FAQ
Who are the reporting persons in this SC 13G/A filing for Crane Co.?
The reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for each reporting person.
What is the total number of Crane Co. common shares beneficially owned by FMR LLC and Abigail P. Johnson?
Both FMR LLC and Abigail P. Johnson beneficially own 6,235,374 shares of Crane Co. common stock, as indicated in Item 9 on their respective cover pages and Item 4(a) for FMR LLC.
What percentage of Crane Co.'s common stock do FMR LLC and Abigail P. Johnson collectively own?
They collectively own 10.974% of Crane Co.'s common stock, as reported in Item 11 on their respective cover pages and Item 4(b) for FMR LLC.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the 'x' in the appropriate box on the cover page and in Item 3 of the filing.
What is the CUSIP number for Crane Co. common stock mentioned in the filing?
The CUSIP number for Crane Co. common stock is 224408104, as stated on the cover page and in Item 2(e) of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding Crane Co (CR).