State of Alaska Department of Revenue Decreases Stake in Crane (NYSE:CR)

State of Alaska Department of Revenue lowered its holdings in Crane (NYSE:CR - Free Report) by 87.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,691 shares of the conglomerate's stock after selling 72,017 shares during the quarter. State of Alaska Department of Revenue's holdings in Crane were worth $1,262,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Lazard Asset Management LLC increased its holdings in Crane by 14.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate's stock valued at $116,000 after purchasing an additional 133 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Crane by 1.1% during the first quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate's stock worth $1,408,000 after buying an additional 136 shares during the period. Ronald Blue Trust Inc. grew its stake in shares of Crane by 99.3% in the third quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate's stock valued at $26,000 after buying an additional 143 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Crane by 1.0% in the 1st quarter. Baird Financial Group Inc. now owns 15,765 shares of the conglomerate's stock valued at $1,707,000 after buying an additional 152 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Crane by 18.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,153 shares of the conglomerate's stock worth $131,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on CR shares. Stifel Nicolaus boosted their price target on shares of Crane from $124.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, January 23rd. StockNews.com downgraded shares of Crane from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Bank of America raised their price target on shares of Crane from $110.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

Crane Stock Down 0.2 %

Crane stock traded down $0.24 during trading on Monday, reaching $137.76. The stock had a trading volume of 131,537 shares, compared to its average volume of 245,445. Crane has a 52-week low of $67.28 and a 52-week high of $139.34. The business has a 50 day moving average price of $128.20 and a 200 day moving average price of $112.08. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The stock has a market cap of $7.86 billion, a PE ratio of 37.33, a P/E/G ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR - Get Free Report) last issued its earnings results on Monday, January 29th. The conglomerate reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $532.90 million during the quarter, compared to the consensus estimate of $519.55 million. On average, analysts predict that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Crane's previous quarterly dividend of $0.18. Crane's dividend payout ratio (DPR) is 22.22%.

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.