Envestnet Asset Management Inc. Sells 9,354 Shares of Crane (NYSE:CR)

Envestnet Asset Management Inc. lessened its holdings in Crane (NYSE:CR - Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,308 shares of the conglomerate's stock after selling 9,354 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of Crane worth $11,842,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CR. Huntington National Bank lifted its position in Crane by 487.8% during the fourth quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock worth $37,000 after purchasing an additional 200 shares during the period. Golden State Wealth Management LLC lifted its position in Crane by 104.8% during the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock worth $39,000 after purchasing an additional 131 shares during the period. Fifth Third Bancorp lifted its position in Crane by 31.4% during the first quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock worth $87,000 after purchasing an additional 136 shares during the period. UMB Bank n.a. lifted its position in Crane by 84.7% during the first quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock worth $105,000 after purchasing an additional 315 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Crane in the 1st quarter valued at approximately $105,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Down 0.1%

Shares of CR stock traded down $0.17 during mid-day trading on Tuesday, reaching $186.69. 52,456 shares of the company's stock traded hands, compared to its average volume of 281,922. Crane has a 12 month low of $127.04 and a 12 month high of $195.00. The company has a market cap of $10.73 billion, a P/E ratio of 24.69, a P/E/G ratio of 1.93 and a beta of 1.26. 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's 50-day moving average price is $181.51 and its 200-day moving average price is $165.50.

Crane (NYSE:CR - Get Free Report) last posted its earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.10. The business 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%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 EPS. On average, equities analysts expect 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 was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Friday, May 30th. Crane's payout ratio is currently 15.94%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. DA Davidson reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Crane in a research note on Tuesday, June 10th. Stifel Nicolaus lifted their price objective on shares of Crane from $165.00 to $189.00 and gave the company a "hold" rating in a report on Monday. 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Crane presently has a consensus rating of "Moderate Buy" and an average target price of $207.50.

Insider Activity at Crane

In related news, SVP Jason D. Feldman sold 1,300 shares of the 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 sale, the senior vice president directly owned 9,796 shares of the company's stock, valued at approximately $1,734,871.60. This represents a 11.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.12% of the stock is owned by insiders.

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.