The Manufacturers Life Insurance Company Buys 15,080 Shares of Crane (NYSE:CR)

The Manufacturers Life Insurance Company lifted its position in shares of Crane (NYSE:CR - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,527 shares of the conglomerate's stock after acquiring an additional 15,080 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.40% of Crane worth $34,527,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Huntington National Bank raised its holdings in Crane by 487.8% during the 4th quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock worth $37,000 after buying an additional 200 shares during the period. UMB Bank n.a. raised its holdings in shares of Crane by 69.1% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the conglomerate's stock worth $56,000 after acquiring an additional 152 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Crane in the 3rd quarter valued at $86,000. Jones Financial Companies Lllp boosted its stake in Crane by 17.8% in the 4th quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock worth $89,000 after purchasing an additional 88 shares during the period. Finally, AlphaQuest LLC bought a new position in Crane during the 4th quarter worth about $101,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Crane Stock Performance

CR stock traded up $4.44 during mid-day trading on Friday, hitting $167.48. 340,632 shares of the company were exchanged, compared to its average volume of 267,546. Crane has a 1-year low of $127.04 and a 1-year high of $188.52. The stock has a market capitalization of $9.61 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The business has a 50 day simple moving average of $150.45 and a 200-day simple moving average of $160.12. 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 issued its quarterly earnings data on Monday, April 28th. The conglomerate reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.10. The firm had revenue of $557.60 million for the quarter, compared to analyst estimates of $546.93 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. On average, equities analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, May 30th. Crane's dividend payout ratio (DPR) is currently 15.94%.

Insider Activity at Crane

In related news, VP Alejandro Alcala sold 2,293 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction of $392,011.28. Following the sale, the vice president now owns 32,963 shares in the company, valued at approximately $5,635,354.48. This trade represents a 6.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CR shares. StockNews.com lowered Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Stifel Nicolaus increased their target price on shares of Crane from $144.00 to $150.00 and gave the stock a "hold" rating in a report on Wednesday. UBS Group upgraded shares of Crane from a "neutral" rating to a "buy" rating and lifted their price target for the company from $157.00 to $190.00 in a research note on Tuesday, April 29th. DA Davidson restated a "buy" rating and issued a $200.00 price objective on shares of Crane in a report on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft set a $186.00 target price on Crane and gave the stock a "buy" rating in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $178.20.

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.