Ritholtz Wealth Management Lowers Stock Holdings in Crane (NYSE:CR)

Ritholtz Wealth Management cut its holdings in shares of Crane (NYSE:CRFree Report) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,539 shares of the conglomerate’s stock after selling 92 shares during the quarter. Ritholtz Wealth Management’s holdings in Crane were worth $773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Crane by 97.2% during the second quarter. BlackRock Inc. now owns 8,031,020 shares of the conglomerate’s stock valued at $584,384,000 after purchasing an additional 3,959,145 shares in the last quarter. State Street Corp boosted its stake in Crane by 93.0% during the second quarter. State Street Corp now owns 2,666,141 shares of the conglomerate’s stock valued at $193,106,000 after buying an additional 1,285,048 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Crane by 76.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,408,030 shares of the conglomerate’s stock worth $179,899,000 after acquiring an additional 1,046,295 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Crane by 111.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,413,999 shares of the conglomerate’s stock worth $102,875,000 after acquiring an additional 745,490 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its position in shares of Crane by 120.5% during 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 acquiring an additional 719,408 shares during the last quarter. Institutional investors own 85.91% of the company’s stock.

Crane Price Performance

CR opened at $135.13 on Friday. 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 business has a fifty day moving average of $125.58 and a 200 day moving average of $109.80. Crane has a 52-week low of $67.28 and a 52-week high of $135.90. The stock has a market cap of $7.71 billion, a P/E ratio of 36.62, a PEG ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CRGet Free Report) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $519.55 million. As a group, sell-side analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were issued a $0.205 dividend. This is a positive change from Crane’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.61%. Crane’s payout ratio is presently 22.22%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CR. StockNews.com raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on Crane from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Bank of America upped their price objective on 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 six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.67.

Check Out Our Latest Analysis on Crane

Crane Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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