Clark Capital Management Group Inc. Sells 16,618 Shares of Crane (NYSE:CR)

Clark Capital Management Group Inc. reduced its position in shares of Crane (NYSE:CR - Free Report) by 37.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,741 shares of the conglomerate's stock after selling 16,618 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Crane were worth $4,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aviva PLC bought a new position in Crane in the 4th quarter worth $538,000. Raymond James Financial Inc. bought a new position in Crane in the 4th quarter worth $12,890,000. Rhumbline Advisers raised its holdings in Crane by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,191 shares of the conglomerate's stock worth $20,515,000 after purchasing an additional 2,953 shares in the last quarter. American Century Companies Inc. grew its position in shares of Crane by 2.7% in the 4th quarter. American Century Companies Inc. now owns 323,272 shares of the conglomerate's stock worth $49,057,000 after buying an additional 8,552 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in shares of Crane in the 4th quarter worth about $744,000. 75.14% of the stock is currently owned by institutional investors.

Crane Stock Performance

Shares of NYSE CR traded down $0.18 during trading on Friday, reaching $169.59. 163,818 shares of the company traded hands, compared to its average volume of 267,061. The firm has a 50 day simple moving average of $151.35 and a 200-day simple moving average of $160.62. 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 stock has a market capitalization of $9.75 billion, a PE ratio of 22.46, a P/E/G ratio of 1.93 and a beta of 1.28. Crane has a 52-week low of $127.04 and a 52-week high of $188.52.

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

Crane Announces Dividend

The business also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, May 30th. Crane's payout ratio is presently 15.94%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CR shares. UBS Group raised shares of Crane from a "neutral" rating to a "buy" rating and upped their target price for the stock from $157.00 to $190.00 in a research report on Tuesday, April 29th. DA Davidson reissued a "buy" rating and set a $200.00 price objective on shares of Crane in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft set a $186.00 price objective on shares of Crane and gave the company a "buy" rating in a research report on Monday, April 14th. StockNews.com downgraded shares of Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus increased their price objective on shares of Crane from $144.00 to $150.00 and gave the company a "hold" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.20.

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.