Millennium Management LLC Has $15.72 Million Stake in Crane (NYSE:CR)

Millennium Management LLC decreased its position in Crane (NYSE:CR - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,616 shares of the conglomerate's stock after selling 70,906 shares during the quarter. Millennium Management LLC owned 0.18% of Crane worth $15,724,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Huntington National Bank boosted its position in Crane by 487.8% during the 4th quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock worth $37,000 after acquiring an additional 200 shares during the period. UMB Bank n.a. boosted its position in Crane by 69.1% during the 4th quarter. UMB Bank n.a. now owns 372 shares of the conglomerate's stock worth $56,000 after acquiring an additional 152 shares during the period. Jones Financial Companies Lllp boosted its position in Crane by 17.8% during the 4th quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock worth $89,000 after acquiring an additional 88 shares during the period. AlphaQuest LLC bought a new stake in shares of Crane in the 4th quarter worth $101,000. Finally, Quarry LP lifted its holdings in shares of Crane by 250.6% in the fourth quarter. Quarry LP now owns 817 shares of the conglomerate's stock valued at $124,000 after buying an additional 584 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group upgraded shares of Crane from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $157.00 to $190.00 in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft set a $186.00 price objective on shares of Crane and gave the company a "buy" rating in a research note on Monday, April 14th. Wall Street Zen lowered Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. DA Davidson reiterated a "buy" rating and set a $200.00 price target on shares of Crane in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus upped their price objective on shares of Crane from $144.00 to $150.00 and gave the stock a "hold" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $178.20.

Insider Buying and Selling at Crane

In other 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 sale, the senior vice president now directly owns 9,796 shares of the company's stock, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company's stock.

Crane Stock Performance

NYSE:CR traded down $1.59 during mid-day trading on Wednesday, hitting $172.54. 7,274 shares of the company's stock traded hands, compared to its average volume of 268,364. The firm has a 50 day moving average of $156.27 and a two-hundred day moving average of $161.58. Crane has a 12 month low of $127.04 and a 12 month high of $188.52. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.10. The company had revenue of $557.60 million during 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 was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 EPS. On average, equities analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.92 annualized dividend and a yield of 0.53%. Crane's payout ratio is 15.94%.

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.