Strs Ohio Has $9.56 Million Holdings in Crane (NYSE:CR)

Strs Ohio trimmed its holdings in Crane (NYSE:CR - Free Report) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,897 shares of the conglomerate's stock after selling 7,619 shares during the quarter. Strs Ohio owned about 0.14% of Crane worth $9,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in Crane by 143.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 116,920 shares of the conglomerate's stock worth $10,387,000 after buying an additional 68,795 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Crane in the third quarter worth approximately $679,000. JS Capital Management LLC lifted its position in Crane by 98.0% in the third quarter. JS Capital Management LLC now owns 400,000 shares of the conglomerate's stock worth $35,536,000 after purchasing an additional 198,000 shares during the period. Financial Enhancement Group LLC lifted its position in Crane by 20.4% in the fourth quarter. Financial Enhancement Group LLC now owns 11,785 shares of the conglomerate's stock worth $1,344,000 after purchasing an additional 1,993 shares during the period. Finally, MGO One Seven LLC acquired a new stake in Crane in the third quarter worth approximately $490,000. 75.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CR. Bank of America upped their target price on Crane from $110.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. StockNews.com downgraded Crane from a "buy" rating to a "hold" rating in a research report on Friday, April 5th. Finally, Stifel Nicolaus increased their price objective on Crane from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $125.00.

Crane Price Performance

Shares of NYSE:CR traded down $0.74 on Thursday, reaching $129.39. 160,797 shares of the company traded hands, compared to its average volume of 236,193. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $139.34. The company's 50 day moving average is $129.46 and its 200-day moving average is $114.20. The stock has a market capitalization of $7.39 billion, a PE ratio of 35.25, a P/E/G ratio of 1.93 and a beta of 1.49. 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 (NYSE:CR - Get Free Report) last issued its earnings results on Monday, January 29th. The conglomerate reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. The business had revenue of $532.90 million during the quarter, compared to analysts' expectations of $519.55 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. As a group, analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal 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 $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Wednesday, February 28th. This is a boost 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.