Ancora Advisors LLC Sells 8,744 Shares of Crane (NYSE:CR)

Ancora Advisors LLC lowered its holdings in shares of Crane (NYSE:CR - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,757 shares of the conglomerate's stock after selling 8,744 shares during the period. Ancora Advisors LLC owned 0.13% of Crane worth $11,193,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in Crane by 0.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,625 shares of the conglomerate's stock valued at $2,371,000 after acquiring an additional 65 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Crane by 5.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,455 shares of the conglomerate's stock worth $221,000 after purchasing an additional 71 shares in the last quarter. Stonegate Investment Group LLC increased its holdings in shares of Crane by 5.3% during the 4th quarter. Stonegate Investment Group LLC now owns 1,439 shares of the conglomerate's stock worth $218,000 after acquiring an additional 72 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Crane by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,975 shares of the conglomerate's stock worth $2,845,000 after purchasing an additional 85 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Crane by 17.8% during the 4th quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock valued at $89,000 after acquiring an additional 88 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Stock Performance

CR traded up $3.99 during midday trading on Thursday, reaching $171.44. The company had a trading volume of 105,410 shares, compared to its average volume of 266,680. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 12-month low of $127.04 and a 12-month high of $188.52. The stock has a market cap of $9.84 billion, a PE ratio of 22.71, a P/E/G ratio of 1.93 and a beta of 1.28. The business has a 50-day moving average price of $150.73 and a two-hundred day moving average price of $160.27.

Crane (NYSE:CR - Get Free Report) last announced its earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.10. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $557.60 million for the quarter, compared to analysts' expectations of $546.93 million. During the same period in the prior year, the company earned $1.22 EPS. The business's revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.54%. Crane's payout ratio is 15.94%.

Analysts Set New Price Targets

A number of analysts have issued reports on CR shares. StockNews.com downgraded Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. UBS Group upgraded Crane from a "neutral" rating to a "buy" rating and lifted their price target for the company from $157.00 to $190.00 in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft set a $186.00 price target on shares of Crane and gave the stock a "buy" rating in a research report on Monday, April 14th. Stifel Nicolaus boosted their target price on shares of Crane from $144.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday, April 30th. Finally, DA Davidson reaffirmed a "buy" rating and set a $200.00 price target on shares of Crane in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Crane currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.20.

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.