Victory Capital Management Inc. Has $74.61 Million Stock Position in Crane (NYSE:CR)

Victory Capital Management Inc. reduced its position in Crane (NYSE:CR - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 631,576 shares of the conglomerate's stock after selling 214,482 shares during the quarter. Victory Capital Management Inc. owned approximately 1.11% of Crane worth $74,614,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Congress Asset Management Co. MA boosted its holdings in shares of Crane by 120.5% in the 3rd quarter. Congress Asset Management Co. MA now owns 1,316,245 shares of the conglomerate's stock valued at $116,935,000 after buying an additional 719,408 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Crane during the 3rd quarter worth approximately $21,302,000. JS Capital Management LLC lifted its holdings in shares of Crane by 98.0% in the 3rd 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 last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 68,795 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new position in Crane during the 3rd quarter valued at approximately $2,997,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Wall Street Analyst Weigh In

CR has been the topic of a number of recent research reports. StockNews.com upgraded Crane from a "hold" rating to a "buy" rating in a research note on Saturday, April 27th. Bank of America lifted their target price on Crane from $110.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, March 5th. Stifel Nicolaus upped their price objective on shares of Crane from $150.00 to $157.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Vertical Research upgraded shares of Crane from a "hold" rating to a "buy" rating in a research note on Wednesday, April 24th. Finally, DA Davidson upped their target price on Crane from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Crane has an average rating of "Moderate Buy" and a consensus target price of $137.00.

Crane Price Performance

Shares of NYSE:CR traded up $1.47 on Friday, reaching $142.95. 181,760 shares of the company traded hands, compared to its average volume of 246,865. The stock has a market capitalization of $8.16 billion, a PE ratio of 38.32, 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. The company's 50 day moving average is $133.28 and its 200-day moving average is $118.25. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $146.29.

Crane (NYSE:CR - Get Free Report) last announced its earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.10. The company had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 earnings per share. As a group, analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.205 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.57%. Crane's dividend payout ratio is currently 21.98%.

Crane Company 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.