Crane (NYSE:CR) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its holdings in Crane (NYSE:CR - Free Report) by 40.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,427 shares of the conglomerate's stock after selling 2,976 shares during the quarter. Cresset Asset Management LLC's holdings in Crane were worth $672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Aviva PLC purchased a new stake in Crane during the fourth quarter worth $538,000. Raymond James Financial Inc. purchased a new stake in Crane during the fourth quarter worth $12,890,000. Rhumbline Advisers boosted its holdings in Crane by 2.2% during the fourth quarter. Rhumbline Advisers now owns 135,191 shares of the conglomerate's stock worth $20,515,000 after buying an additional 2,953 shares in the last quarter. American Century Companies Inc. boosted its holdings in Crane by 2.7% during the fourth 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 in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in Crane during the fourth quarter worth $744,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Crane Stock Performance

CR opened at $175.95 on Wednesday. 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 company has a market cap of $10.12 billion, a price-to-earnings ratio of 23.30, a PEG 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. The firm's fifty day simple moving average is $152.25 and its two-hundred day simple moving average is $160.91.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. Equities analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, May 30th. Crane's dividend payout ratio is currently 15.94%.

Wall Street Analysts Forecast Growth

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

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