Wells Fargo & Company MN trimmed its stake in shares of Crane (NYSE:CR - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,972 shares of the conglomerate's stock after selling 2,300 shares during the period. Wells Fargo & Company MN owned about 0.14% of Crane worth $12,591,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in CR. Huntington National Bank lifted its position in shares of Crane by 487.8% during the 4th quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock valued at $37,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. lifted its holdings in Crane by 69.1% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the conglomerate's stock valued at $56,000 after purchasing an additional 152 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Crane in the third quarter valued at about $86,000. Jones Financial Companies Lllp increased its stake in shares of Crane by 17.8% during the fourth quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock worth $89,000 after purchasing an additional 88 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Crane during the 4th quarter worth about $101,000. Institutional investors and hedge funds own 75.14% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on CR shares. Deutsche Bank Aktiengesellschaft set a $186.00 price objective on Crane and gave the stock a "buy" rating in a report on Monday, April 14th. UBS Group lifted their price target on Crane from $152.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, January 3rd. DA Davidson reissued a "buy" rating and issued a $200.00 price objective on shares of Crane in a research note on Tuesday, March 11th. StockNews.com cut shares of Crane from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their target price on shares of Crane from $170.00 to $144.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Crane has an average rating of "Moderate Buy" and a consensus target price of $170.40.
Read Our Latest Analysis on Crane
Crane Trading Up 0.7 %
NYSE:CR traded up $0.94 during trading hours on Friday, hitting $142.51. The company had a trading volume of 264,630 shares, compared to its average volume of 260,642. Crane has a 1 year low of $127.04 and a 1 year high of $188.52. 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 company has a 50-day moving average of $153.92 and a 200 day moving average of $160.63. The company has a market cap of $8.18 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.93 and a beta of 1.31.
Crane (NYSE:CR - Get Free Report) last issued its earnings results on Monday, January 27th. The conglomerate reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same quarter in the prior year, the firm earned $0.90 EPS. Sell-side analysts expect that Crane will post 7.87 earnings per share for the current year.
Crane Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.92 dividend on an annualized basis and a yield of 0.65%. This is an increase from Crane's previous quarterly dividend of $0.21. Crane's payout ratio is currently 18.18%.
Insider Transactions at Crane
In other Crane news, VP Alejandro Alcala sold 2,293 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $170.96, for a total value of $392,011.28. Following the sale, the vice president now owns 32,963 shares of the company's stock, valued at $5,635,354.48. The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.12% of the company's stock.
Crane Company Profile
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Free Report)
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.
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