Pinnacle Wealth Management LLC Takes $655,000 Position in Crane $CR

Key Points

• Pinnacle Wealth Management LLC acquired a new position in Crane, purchasing 4,277 shares valued at approximately $655,000.
• Crane's quarterly earnings report showed earnings per share of $1.49, exceeding analyst expectations and marking a 9.2% revenue increase year-over-year.
• The company recently announced a quarterly dividend of $0.23 per share, indicating a 0.5% annual yield with a payout ratio of 15.31%.

Pinnacle Wealth Management LLC acquired a new stake in shares of Crane (NYSE:CR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,277 shares of the conglomerate's stock, valued at approximately $655,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CR. Cetera Investment Advisers increased its position in Crane by 0.9% during the fourth quarter. Cetera Investment Advisers now owns 8,196 shares of the conglomerate's stock valued at $1,244,000 after acquiring an additional 74 shares during the last quarter. NorthRock Partners LLC lifted its stake in Crane by 4.2% in the fourth quarter. NorthRock Partners LLC now owns 1,954 shares of the conglomerate's stock worth $297,000 after acquiring an additional 79 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Crane by 4.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,037 shares of the conglomerate's stock worth $309,000 after purchasing an additional 90 shares in the last quarter. TD Asset Management Inc raised its holdings in Crane by 0.5% in the first quarter. TD Asset Management Inc now owns 19,326 shares of the conglomerate's stock worth $2,960,000 after purchasing an additional 92 shares in the last quarter. Finally, Intrust Bank NA raised its holdings in Crane by 2.7% in the first quarter. Intrust Bank NA now owns 3,686 shares of the conglomerate's stock worth $565,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

Crane Stock Down 1.1%

Shares of CR opened at $188.86 on Monday. Crane has a 52-week low of $127.04 and a 52-week high of $203.89. The company has a market capitalization of $10.87 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The stock has a fifty day simple moving average of $189.13 and a two-hundred day simple moving average of $170.35. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $567.70 million. During the same period last year, the business earned $1.20 earnings per share. The business's revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crane from $187.00 to $226.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Stifel Nicolaus increased their price target on shares of Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. DA Davidson increased their price target on shares of Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, UBS Group reiterated a "buy" rating and issued a $230.00 price target (up previously from $215.00) on shares of Crane in a report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.50.

Insiders Place Their Bets

In other news, SVP Jason D. Feldman sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total transaction 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. The trade was a 11.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.12% of the stock is currently owned by corporate insiders.

About Crane

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.

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