Swiss National Bank Sells 1,400 Shares of Crane (NYSE:CR)

Key Points

• Swiss National Bank reduced its stake in Crane by 1.5%, owning 94,300 shares worth approximately $14.45 million after selling 1,400 shares in the first quarter.
• Several firms, including Deutsche Bank and DA Davidson, have raised their price targets for Crane's stock, which is currently rated as a "Moderate Buy" with an average target of $221.50.
• Crane announced a quarterly dividend of $0.23 per share, set to be paid on September 10th, translating to an annualized dividend yield of 0.5%.

Swiss National Bank reduced its stake in shares of Crane (NYSE:CR - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,300 shares of the conglomerate's stock after selling 1,400 shares during the quarter. Swiss National Bank owned 0.16% of Crane worth $14,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CR. Golden State Wealth Management LLC grew its stake 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 purchasing an additional 131 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Crane by 31.4% in the first quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock worth $87,000 after purchasing an additional 136 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Crane by 84.7% in the first quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock worth $105,000 after purchasing an additional 315 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Crane in the first quarter worth about $105,000. Finally, Quarry LP grew its stake in shares of Crane by 250.6% in the fourth 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. 75.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CR. Deutsche Bank Aktiengesellschaft raised their target price on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Stifel Nicolaus raised their price objective 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 raised their price objective 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 restated a "buy" rating and issued a $230.00 price objective (up from $215.00) on shares of Crane in a report 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. According to MarketBeat.com, the stock 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 Crane stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total transaction of $230,230.00. Following the transaction, the senior vice president owned 9,796 shares in the company, valued at approximately $1,734,871.60. The trade was a 11.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.12% of the company's stock.

Crane Trading Up 0.5%

NYSE:CR opened at $198.39 on Thursday. 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 has a 12 month low of $127.04 and a 12 month high of $203.89. The company has a market cap of $11.42 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The company has a 50 day simple moving average of $188.58 and a two-hundred day simple moving average of $170.03.

Crane (NYSE:CR - Get Free Report) last posted its earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping 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 the consensus estimate of $567.70 million. During the same quarter in the previous year, the firm posted $1.20 EPS. The firm's revenue was up 9.2% on a year-over-year basis. Research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

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

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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