Bank of New York Mellon Corp Has $62.25 Million Stake in Crane (NYSE:CR)

Bank of New York Mellon Corp lessened its holdings in shares of Crane (NYSE:CR - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 406,386 shares of the conglomerate's stock after selling 7,337 shares during the quarter. Bank of New York Mellon Corp owned 0.71% of Crane worth $62,250,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CR. Huntington National Bank raised its stake in shares of Crane by 487.8% in the 4th quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock valued at $37,000 after purchasing an additional 200 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Crane by 104.8% in the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after purchasing an additional 131 shares during the period. Fifth Third Bancorp raised its stake in shares of Crane by 31.4% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock valued at $87,000 after purchasing an additional 136 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Crane by 17.8% in the 4th quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock valued at $89,000 after purchasing an additional 88 shares during the period. Finally, AlphaQuest LLC acquired a new stake in shares of Crane in the 4th quarter valued at about $101,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Buying and Selling

In related news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total transaction of $230,230.00. Following the completion of the transaction, the senior vice president owned 9,796 shares in the company, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.12% of the company's stock.

Crane Stock Down 0.8%

Shares of NYSE CR traded down $1.48 during mid-day trading on Friday, hitting $185.36. The company had a trading volume of 226,535 shares, compared to its average volume of 284,109. The company has a market capitalization of $10.66 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The firm has a 50-day simple moving average of $179.51 and a two-hundred day simple moving average of $164.14. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a one year low of $127.04 and a one year high of $195.00.

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

Crane Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.