Nuveen LLC Acquires Shares of 491,275 Crane (NYSE:CR)

Key Points

• Nuveen LLC invested approximately $75.25 million in Crane by acquiring 491,275 shares, representing about 0.85% ownership of the company.
• Analysts have a consensus "Moderate Buy" rating for Crane, with a price target averaging $221.50 after multiple upgrades from various brokerages.
• Crane recently announced a quarterly dividend of $0.23 per share, indicating an annualized dividend yield of 0.5% with a payout ratio of 15.31%.

Nuveen LLC acquired a new stake in shares of Crane (NYSE:CR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 491,275 shares of the conglomerate's stock, valued at approximately $75,254,000. Nuveen LLC owned approximately 0.85% of Crane as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in shares of Crane in the 4th quarter worth $5,532,000. Golden State Wealth Management LLC grew its holdings in shares of Crane by 104.8% in the first 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. Twelve Points Wealth Management LLC grew its holdings in shares of Crane by 19.6% in the first quarter. Twelve Points Wealth Management LLC now owns 11,405 shares of the conglomerate's stock worth $1,747,000 after acquiring an additional 1,870 shares during the period. HB Wealth Management LLC bought a new stake in shares of Crane in the first quarter worth $339,000. Finally, Alps Advisors Inc. grew its holdings in shares of Crane by 14.1% in the first quarter. Alps Advisors Inc. now owns 41,970 shares of the conglomerate's stock worth $6,429,000 after acquiring an additional 5,197 shares during the period. Institutional investors own 75.14% of the company's stock.

Insider Buying and Selling at Crane

In related news, SVP Jason D. Feldman sold 1,300 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were 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 directly owned 9,796 shares of the company's stock, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.12% of the company's stock.

Crane Price Performance

Shares of NYSE CR traded down $2.12 during mid-day trading on Friday, reaching $188.86. The company's stock had a trading volume of 318,474 shares, compared to its average volume of 309,284. The firm has a market capitalization of $10.87 billion, a PE ratio of 25.01, a P/E/G ratio of 1.93 and a beta of 1.26. 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 stock has a fifty day moving average of $189.13 and a two-hundred day moving average of $170.36. Crane has a 52 week low of $127.04 and a 52 week high of $203.89.

Crane (NYSE:CR - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.15. The firm had revenue of $577.20 million during the quarter, compared to analyst estimates of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 earnings per share. As a group, sell-side analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be issued 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 (DPR) is 15.31%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CR. Deutsche Bank Aktiengesellschaft lifted their price objective on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. DA Davidson lifted their target price on Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and set a $230.00 target price (up from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus lifted their target price on Crane from $189.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.