TIAA Trust National Association Takes Position in Crane (NYSE:CR)

TIAA Trust National Association acquired a new stake in Crane (NYSE:CR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,507 shares of the conglomerate's stock, valued at approximately $231,000.

A number of other institutional investors also recently modified their holdings of CR. Golden State Wealth Management LLC increased its stake in shares of Crane by 104.8% in the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after acquiring an additional 131 shares in the last quarter. Fifth Third Bancorp grew its holdings in 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 period. UMB Bank n.a. increased its stake in Crane by 84.7% in the first quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock valued at $105,000 after purchasing an additional 315 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Crane during the first quarter valued at about $105,000. Finally, Quarry LP boosted its position in shares of Crane by 250.6% during the 4th quarter. Quarry LP now owns 817 shares of the conglomerate's stock worth $124,000 after purchasing an additional 584 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CR. DA Davidson upped their price target on Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Stifel Nicolaus increased their target price on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, UBS Group restated a "buy" rating and set a $230.00 price objective (up previously 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 stock. Based on data from MarketBeat, Crane presently has an average rating of "Moderate Buy" and a consensus target price of $221.50.

Insider Activity at Crane

In other news, SVP Jason D. Feldman sold 1,300 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 9,796 shares of the company's stock, valued at $1,734,871.60. This represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.12% of the stock is currently owned by corporate insiders.

Crane Stock Down 0.3%

Shares of CR stock traded down $0.49 during trading hours on Friday, reaching $194.19. The company had a trading volume of 232,227 shares, compared to its average volume of 311,455. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth 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. Crane has a 12 month low of $127.04 and a 12 month high of $203.89. The business has a fifty day simple moving average of $186.73 and a 200-day simple moving average of $169.10.

Crane (NYSE:CR - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.15. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $577.20 million during the quarter, compared to analyst estimates of $567.70 million. During the same period in the prior year, the firm posted $1.20 EPS. Crane's quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that Crane will post 7.87 earnings per share for the current fiscal 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 dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 0.5%. Crane's dividend payout ratio (DPR) is currently 15.31%.

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.