Nuveen Asset Management LLC Has $79.20 Million Stake in Crane (NYSE:CR)

Nuveen Asset Management LLC reduced its position in shares of Crane (NYSE:CR - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 521,923 shares of the conglomerate's stock after selling 48,660 shares during the period. Nuveen Asset Management LLC owned 0.91% of Crane worth $79,202,000 as of its most recent SEC filing.

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

Crane Stock Performance

NYSE CR traded down $4.59 during trading hours on Wednesday, reaching $170.62. 239,750 shares of the company were exchanged, compared to its average volume of 267,309. Crane has a 1 year low of $127.04 and a 1 year high of $188.52. 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 stock has a market capitalization of $9.81 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.93 and a beta of 1.28. The business's 50 day simple moving average is $154.54 and its 200-day simple moving average is $161.57.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The conglomerate reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.10. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $557.60 million for the quarter, compared to analysts' expectations of $546.93 million. During the same quarter in the previous year, the business posted $1.22 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently announced 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, May 30th. Crane's payout ratio is 15.94%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CR shares. StockNews.com downgraded shares of Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. UBS Group upgraded shares of Crane from a "neutral" rating to a "buy" rating and upped their price target for the company from $157.00 to $190.00 in a research note on Tuesday, April 29th. Stifel Nicolaus boosted their price objective on shares of Crane from $144.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $186.00 price target on shares of Crane and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, DA Davidson reissued a "buy" rating and issued a $200.00 price target on shares of Crane in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Crane presently has an average rating of "Moderate Buy" and a consensus price target of $178.20.

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.