Alps Advisors Inc. Purchases 5,197 Shares of Crane (NYSE:CR)

Alps Advisors Inc. increased its position in Crane (NYSE:CR - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,970 shares of the conglomerate's stock after buying an additional 5,197 shares during the period. Alps Advisors Inc. owned 0.07% of Crane worth $6,429,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CR. BNP Paribas Financial Markets acquired a new position in Crane during the 4th quarter valued at about $5,532,000. Aviva PLC acquired a new position in Crane during the 4th quarter valued at about $538,000. Golden State Wealth Management LLC lifted its position in shares of 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 in the last quarter. Artemis Investment Management LLP bought a new position in shares of Crane during the 1st quarter worth approximately $18,835,000. Finally, Raymond James Financial Inc. bought a new position in shares of Crane during the 4th quarter worth approximately $12,890,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CR. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. DA Davidson reissued a "buy" rating and set a $200.00 target price on shares of Crane in a research report on Tuesday, June 10th. Stifel Nicolaus lifted their target price on shares of Crane from $144.00 to $150.00 and gave the stock a "hold" rating in a research report on Wednesday, April 30th. Finally, UBS Group set a $215.00 target price on shares of Crane and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $197.75.

Crane Stock Performance

Shares of NYSE:CR traded down $1.48 during mid-day trading on Friday, reaching $185.36. The company had a trading volume of 226,535 shares, compared to its average volume of 284,109. 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 firm has a market cap of $10.66 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 1.93 and a beta of 1.26. The company's 50-day moving average price is $179.51 and its 200-day moving average price is $164.14. Crane has a one year low of $127.04 and a one year high of $195.00.

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

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were paid a $0.23 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 0.50%. Crane's dividend payout ratio is 15.94%.

Insiders Place Their Bets

In related news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total value of $230,230.00. Following the completion of the transaction, the senior vice president directly owned 9,796 shares in the company, valued at approximately $1,734,871.60. The trade was a 11.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company's stock.

About Crane

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.