US Bancorp DE cut its holdings in shares of Crane (NYSE:CR - Free Report) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,440 shares of the conglomerate's stock after selling 1,988 shares during the period. US Bancorp DE's holdings in Crane were worth $2,365,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CR. JPMorgan Chase & Co. lifted its position in Crane by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 129,971 shares of the conglomerate's stock valued at $19,723,000 after purchasing an additional 1,394 shares during the period. Aviva PLC bought a new position in shares of Crane during the 4th quarter valued at $538,000. Bank of Montreal Can grew its holdings in shares of Crane by 7.9% in the fourth quarter. Bank of Montreal Can now owns 9,537 shares of the conglomerate's stock worth $1,447,000 after acquiring an additional 698 shares during the period. Invesco Ltd. grew its holdings in shares of Crane by 10.7% in the fourth quarter. Invesco Ltd. now owns 1,425,015 shares of the conglomerate's stock worth $216,246,000 after acquiring an additional 138,279 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in Crane during the fourth quarter valued at $744,000. Hedge funds and other institutional investors own 75.14% of the company's stock.
Crane Stock Performance
Crane stock traded down $0.49 during midday trading on Friday, hitting $194.19. The stock had a trading volume of 232,227 shares, compared to its average volume of 311,455. Crane has a 52-week low of $127.04 and a 52-week high of $203.89. The company has a market capitalization of $11.18 billion, a PE ratio of 25.72, a P/E/G ratio of 1.93 and a beta of 1.26. The firm's fifty day moving average is $186.73 and its two-hundred day moving average is $169.10. 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 (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 earnings per share (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 firm had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 million. During the same period in the prior year, the company posted $1.20 earnings per share. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, research analysts forecast that Crane will post 7.87 EPS for the current 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 given a dividend of $0.23 per share. The ex-dividend date 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%.
Insider Activity
In related news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total transaction of $230,230.00. Following the sale, the senior vice president 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.12% of the company's stock.
Wall Street Analyst Weigh In
CR has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. DA Davidson boosted their target price on shares of Crane from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. 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 research report on Wednesday, July 30th. Finally, UBS Group reiterated a "buy" rating and set a $230.00 price target (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $221.50.
View Our Latest Research Report on Crane
About Crane
(
Free Report)
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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