Mutual of America Capital Management LLC Lowers Position in Crane (NYSE:CR)

Mutual of America Capital Management LLC lessened its stake in Crane (NYSE:CR - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,162 shares of the conglomerate's stock after selling 3,966 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.09% of Crane worth $8,297,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Capital World Investors lifted its holdings in shares of Crane by 16.9% in the fourth quarter. Capital World Investors now owns 2,455,854 shares of the conglomerate's stock worth $372,676,000 after buying an additional 355,765 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Crane by 10.7% in the fourth quarter. Invesco Ltd. now owns 1,425,015 shares of the conglomerate's stock worth $216,246,000 after buying an additional 138,279 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Crane by 1.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 976,497 shares of the conglomerate's stock worth $148,184,000 after purchasing an additional 14,227 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Crane by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 797,880 shares of the conglomerate's stock worth $121,080,000 after purchasing an additional 5,509 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in Crane by 10.3% in the fourth quarter. Neuberger Berman Group LLC now owns 772,756 shares of the conglomerate's stock worth $117,266,000 after purchasing an additional 72,417 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. UBS Group restated a "buy" rating and issued a $230.00 price target (up previously from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Stifel Nicolaus boosted 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, Deutsche Bank Aktiengesellschaft boosted their price target 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Crane presently has a consensus rating of "Moderate Buy" and an average price target of $221.50.

Insider Activity

In other news, SVP Jason D. Feldman sold 1,300 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total transaction 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. The trade was a 11.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.12% of the company's stock.

Crane Trading Down 0.3%

CR stock traded down $0.49 during mid-day trading on Friday, reaching $194.19. 232,227 shares of the stock traded hands, compared to its average volume of 311,455. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a one year low of $127.04 and a one year high of $203.89. The stock has a market capitalization of $11.18 billion, a PE ratio of 25.72, a PEG ratio of 1.93 and a beta of 1.26. The business has a 50-day moving average price of $186.73 and a two-hundred day moving average price of $169.10.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.15. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $577.20 million for the quarter, compared to analysts' expectations of $567.70 million. During the same quarter in the previous year, the business posted $1.20 earnings per share. The business's revenue was up 9.2% compared to the same quarter last year. Equities research analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Crane's 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.