Verdence Capital Advisors LLC bought a new position in shares of Crane (NYSE:CR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,703 shares of the conglomerate's stock, valued at approximately $261,000.
A number of other hedge funds also recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in Crane during the 4th quarter worth $5,532,000. Aviva PLC purchased a new stake in Crane during the 4th quarter worth $538,000. Golden State Wealth Management LLC increased its stake in Crane by 104.8% during the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock worth $39,000 after buying an additional 131 shares during the period. Twelve Points Wealth Management LLC increased its stake in Crane by 19.6% during the 1st quarter. Twelve Points Wealth Management LLC now owns 11,405 shares of the conglomerate's stock worth $1,747,000 after buying an additional 1,870 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of Crane by 14.1% in the 1st quarter. Alps Advisors Inc. now owns 41,970 shares of the conglomerate's stock worth $6,429,000 after purchasing an additional 5,197 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.
Wall Street Analysts Forecast Growth
CR has been the subject of several research analyst reports. Stifel Nicolaus boosted their target price on shares of Crane from $165.00 to $189.00 and gave the stock a "hold" rating in a research report on Monday. DA Davidson reaffirmed a "buy" rating and issued a $200.00 price target on shares of Crane in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, UBS Group set a $215.00 target price on shares of Crane and gave the company a "buy" rating in a research note on Tuesday, June 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $207.50.
Check Out Our Latest Stock Analysis on CR
Crane Price Performance
Shares of CR stock traded down $0.41 during mid-day trading on Thursday, reaching $188.09. The company's stock had a trading volume of 32,866 shares, compared to its average volume of 313,946. Crane has a 1-year low of $127.04 and a 1-year high of $195.00. The company has a market cap of $10.82 billion, a P/E ratio of 24.91, a PEG ratio of 1.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The firm's 50-day moving average is $181.97 and its two-hundred day moving average is $165.88.
Crane (NYSE:CR - Get Free Report) last posted its 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. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $557.60 million for the quarter, compared to analyst estimates of $546.93 million. During the same quarter in the prior year, the firm earned $1.22 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts predict that Crane will post 7.87 earnings per share for the current year.
Crane Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.49%. Crane's dividend payout ratio is 15.94%.
Insider Buying and Selling
In other Crane news, SVP Jason D. Feldman sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total transaction of $230,230.00. Following the sale, the senior vice president directly owned 9,796 shares in the company, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.12% of the company's stock.
About Crane
(
Free Report)
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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