Advisory Services Network LLC Takes $1.47 Million Position in Crane (NYSE:CR)

Advisory Services Network LLC acquired a new position in Crane (NYSE:CR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,712 shares of the conglomerate's stock, valued at approximately $1,474,000.

Several other hedge funds have also recently made changes to their positions in CR. Vanguard Group Inc. raised its stake in shares of Crane by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,695,440 shares of the conglomerate's stock valued at $712,533,000 after acquiring an additional 14,373 shares during the period. Invesco Ltd. grew its stake in shares of Crane by 10.7% during the fourth quarter. Invesco Ltd. now owns 1,425,015 shares of the conglomerate's stock valued at $216,246,000 after buying an additional 138,279 shares during the last quarter. Norges Bank purchased a new stake in shares of Crane in the fourth quarter worth approximately $144,961,000. Alliancebernstein L.P. boosted its holdings in Crane by 619.4% during the 4th quarter. Alliancebernstein L.P. now owns 499,656 shares of the conglomerate's stock valued at $75,823,000 after acquiring an additional 430,201 shares during the period. Finally, Principal Financial Group Inc. grew its position in Crane by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 446,500 shares of the conglomerate's stock valued at $67,758,000 after acquiring an additional 5,250 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Crane news, VP Alejandro Alcala sold 2,293 shares of Crane stock in a transaction dated Thursday, February 6th. The stock was 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $186.00 price target on shares of Crane and gave the stock a "buy" rating in a research note on Monday. DA Davidson reissued a "buy" rating and issued a $200.00 price objective on shares of Crane in a research note on Tuesday, March 11th. Stifel Nicolaus lowered their target price on Crane from $170.00 to $144.00 and set a "hold" rating for the company in a report on Monday. UBS Group raised their price target on Crane from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, January 3rd. Finally, StockNews.com cut shares of Crane from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $170.40.

Crane Stock Up 0.7 %

Shares of NYSE:CR traded up $0.94 during trading on Friday, reaching $142.51. The stock had a trading volume of 264,630 shares, compared to its average volume of 260,460. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $8.18 billion, a P/E ratio of 18.88, a PEG ratio of 1.93 and a beta of 1.31. The firm's 50-day simple moving average is $154.50 and its 200 day simple moving average is $160.66. Crane has a one year low of $127.04 and a one year high of $188.52.

Crane (NYSE:CR - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $0.90 EPS. As a group, research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The firm also recently declared 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 positive change from Crane's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. Crane's payout ratio is presently 18.18%.

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.