LPL Financial LLC Has $4.22 Million Holdings in Crane $CR

Key Points

• LPL Financial LLC increased its stake in Crane by 7.6% in the first quarter, acquiring an additional 1,947 shares to hold a total of 27,520 shares valued at approximately $4.2 million.
• Analysts project a positive outlook for Crane, with price targets raised by several firms, including Deutsche Bank and UBS, indicating a consensus rating of "Moderate Buy" and an average price target of $221.50.
• Crane recently declared a quarterly dividend of $0.23, set to be paid on September 10th, with an annualized yield of 0.5% and a payout ratio of 15.31%.

LPL Financial LLC increased its holdings in Crane (NYSE:CR - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,520 shares of the conglomerate's stock after buying an additional 1,947 shares during the period. LPL Financial LLC's holdings in Crane were worth $4,215,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its stake in Crane by 104.8% in the first 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 in the last quarter. Fifth Third Bancorp raised its holdings in Crane by 31.4% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock worth $87,000 after acquiring an additional 136 shares during the period. UMB Bank n.a. boosted its holdings in Crane by 84.7% during the first quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock valued at $105,000 after acquiring an additional 315 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Crane in the first quarter valued at about $105,000. Finally, Quarry LP increased its stake in shares of Crane by 250.6% in the fourth quarter. Quarry LP now owns 817 shares of the conglomerate's stock worth $124,000 after purchasing an additional 584 shares during the period. Institutional investors own 75.14% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. UBS Group restated a "buy" rating and issued a $230.00 price objective (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Stifel Nicolaus raised their price target on shares of Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, DA Davidson upped their price objective on shares of Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. 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, Crane has a consensus rating of "Moderate Buy" and a consensus price target of $221.50.

Crane Stock Performance

Crane stock traded down $0.08 on Tuesday, hitting $192.76. The company's stock had a trading volume of 13,381 shares, compared to its average volume of 307,846. The company has a fifty day moving average price of $189.27 and a 200-day moving average price of $170.51. The firm has a market cap of $11.09 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. Crane has a one year low of $127.04 and a one year high of $203.89. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.15. The firm had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 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 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. On average, equities analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, August 29th. Crane's dividend payout ratio is currently 15.31%.

Crane Company 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.