Invesco Ltd. Has $178.84 Million Stock Position in Crane $CR

Key Points

• Invesco Ltd. sold 257,523 shares of Crane, reducing its stake by 18.1% to approximately 1,167,492 shares, valued at $178.8 million.
• Several institutional investors have **increased** their stakes in Crane, with Golden State Wealth Management having a notable 104.8% increase in the first quarter.
• Crane's most recent earnings report showed **$1.49 EPS**, exceeding expectations, while a quarterly dividend of **$0.23 per share** will be paid on September 10th.

Invesco Ltd. reduced its holdings in Crane (NYSE:CR - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,167,492 shares of the conglomerate's stock after selling 257,523 shares during the period. Invesco Ltd. owned approximately 2.03% of Crane worth $178,836,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC lifted its position 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 worth $39,000 after acquiring an additional 131 shares during the period. Fifth Third Bancorp lifted its position in shares of 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. lifted its position in shares of Crane by 84.7% in the 1st quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock worth $105,000 after acquiring an additional 315 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Crane in the 1st quarter worth approximately $105,000. Finally, Quarry LP lifted its position in shares of Crane by 250.6% in the 4th quarter. Quarry LP now owns 817 shares of the conglomerate's stock worth $124,000 after acquiring an additional 584 shares during the period. 75.14% of the stock is owned by institutional investors.

Crane Price Performance

Shares of Crane stock traded up $1.42 during midday trading on Monday, hitting $190.61. 82,849 shares of the company were exchanged, compared to its average volume of 307,780. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The firm has a market cap of $10.97 billion, a P/E ratio of 25.24, a PEG ratio of 1.93 and a beta of 1.26. Crane has a 52 week low of $127.04 and a 52 week high of $203.89. The firm has a 50 day simple moving average of $189.13 and a 200-day simple moving average of $170.35.

Crane (NYSE:CR - Get Free Report) last posted its earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.34 by $0.15. The business had revenue of $577.20 million during the quarter, compared to the consensus estimate of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane's revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned $1.20 EPS. Research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

Insider Transactions at Crane

In other Crane news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction on Tuesday, May 20th. The stock was 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. DA Davidson raised their price objective on Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and issued a $230.00 price objective (up previously from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Stifel Nicolaus raised their price objective on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $187.00 to $226.00 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.50.

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.