Vanguard Group Inc. Sells 29,208 Shares of Crane (NYSE:CR)

Vanguard Group Inc. trimmed its holdings in Crane (NYSE:CR - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,666,232 shares of the conglomerate's stock after selling 29,208 shares during the period. Vanguard Group Inc. owned about 8.12% of Crane worth $714,773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Capital World Investors raised its position in 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 acquiring an additional 355,765 shares during the period. T. Rowe Price Investment Management Inc. raised 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 acquiring an additional 14,227 shares during the period. Dimensional Fund Advisors LP raised 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 acquiring an additional 5,509 shares during the period. Select Equity Group L.P. raised its position in Crane by 25.2% in the fourth quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate's stock worth $114,445,000 after acquiring an additional 151,717 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Crane by 23.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate's stock worth $104,127,000 after acquiring an additional 130,218 shares during the period. 75.14% of the stock is owned by institutional investors.

Crane Trading Down 1.1%

NYSE:CR traded down $2.12 during midday trading on Friday, reaching $188.86. 318,474 shares of the stock traded hands, compared to its average volume of 309,284. The company has a fifty day moving average of $189.13 and a 200 day moving average of $170.36. Crane has a 12 month low of $127.04 and a 12 month high of $203.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock has a market capitalization of $10.87 billion, a P/E ratio of 25.01, a PEG ratio of 1.93 and a beta of 1.26.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS 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 company had revenue of $577.20 million during the quarter, compared to analyst estimates of $567.70 million. During the same period in the prior year, the business posted $1.20 EPS. The firm's revenue was up 9.2% compared to the same quarter last year. On average, research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

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

Wall Street Analyst Weigh In

CR has been the topic of several research reports. UBS Group reaffirmed 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. DA Davidson lifted their target price on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Stifel Nicolaus lifted their target price on shares of Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Crane has an average rating of "Moderate Buy" and an average price target of $221.50.

Insider Buying and Selling at Crane

In related news, SVP Jason D. Feldman sold 1,300 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total transaction of $230,230.00. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.12% of the stock is owned by corporate 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.