Voloridge Investment Management LLC Takes $8.23 Million Position in Crane (NYSE:CR)

Voloridge Investment Management LLC acquired a new stake in shares of Crane (NYSE:CR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 54,245 shares of the conglomerate's stock, valued at approximately $8,232,000. Voloridge Investment Management LLC owned about 0.09% of Crane at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of Crane by 487.8% in the 4th quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Crane by 17.8% in the fourth quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock worth $89,000 after buying an additional 88 shares during the last quarter. AlphaQuest LLC purchased a new position in Crane in the fourth quarter worth about $101,000. Quarry LP raised its holdings in Crane by 250.6% in the 4th quarter. Quarry LP now owns 817 shares of the conglomerate's stock worth $124,000 after acquiring an additional 584 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Crane by 901.1% in the 4th quarter. Covestor Ltd now owns 911 shares of the conglomerate's stock worth $138,000 after acquiring an additional 820 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Crane Stock Performance

CR stock traded up $3.84 during midday trading on Tuesday, reaching $173.91. 169,526 shares of the company's stock traded hands, compared to its average volume of 269,387. Crane has a 52-week low of $127.04 and a 52-week high of $188.52. The stock has a market cap of $10.00 billion, a P/E ratio of 23.03, a PEG ratio of 1.93 and a beta of 1.28. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The stock's 50-day moving average is $156.27 and its 200 day moving average is $161.58.

Crane (NYSE:CR - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The conglomerate reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.10. The business had revenue of $557.60 million during the quarter, compared to analysts' expectations of $546.93 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. As a group, analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be paid a $0.23 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. Crane's dividend payout ratio (DPR) is presently 15.94%.

Insiders Place Their Bets

In related news, SVP Jason D. Feldman sold 1,300 shares of the 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 sale, the senior vice president now owns 9,796 shares in the company, 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. 2.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on CR shares. Stifel Nicolaus boosted their target price on Crane from $144.00 to $150.00 and gave the stock a "hold" rating in a research report on Wednesday, April 30th. DA Davidson reiterated a "buy" rating and set a $200.00 target price on shares of Crane in a research note on Tuesday, March 11th. UBS Group upgraded shares of Crane from a "neutral" rating to a "buy" rating and boosted their target price for the company from $157.00 to $190.00 in a research note on Tuesday, April 29th. Wall Street Zen cut Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $186.00 price objective on Crane and gave the company a "buy" rating in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $178.20.

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.