California State Teachers Retirement System Reduces Stock Position in Crane (NYSE:CR)

California State Teachers Retirement System cut its stake in Crane (NYSE:CRFree Report) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,933 shares of the conglomerate’s stock after selling 2,387 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Crane worth $6,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Crane by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 742,252 shares of the conglomerate’s stock valued at $87,690,000 after purchasing an additional 37,388 shares in the last quarter. Norges Bank acquired a new position in Crane in the fourth quarter valued at approximately $59,659,000. Principal Financial Group Inc. lifted its holdings in Crane by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 439,159 shares of the conglomerate’s stock valued at $51,882,000 after acquiring an additional 9,722 shares during the last quarter. JS Capital Management LLC lifted its holdings in Crane by 98.0% in the third quarter. JS Capital Management LLC now owns 400,000 shares of the conglomerate’s stock valued at $35,536,000 after acquiring an additional 198,000 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in Crane in the third quarter valued at approximately $21,302,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Stock Up 0.3 %

Crane stock opened at $142.47 on Tuesday. Crane has a twelve month low of $77.73 and a twelve month high of $150.01. The stock’s fifty day simple moving average is $141.26 and its 200-day simple moving average is $127.02. 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 firm has a market capitalization of $8.14 billion, a P/E ratio of 38.20, a P/E/G ratio of 1.93 and a beta of 0.87.

Crane (NYSE:CRGet Free Report) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. As a group, equities analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Friday, May 31st. Crane’s dividend payout ratio is currently 21.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group upped their price objective on Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Bank of America upped their price objective on Crane from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. DA Davidson upped their price target on Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Stifel Nicolaus restated a “buy” rating and set a $157.00 price target on shares of Crane in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.67.

Read Our Latest Analysis on CR

About Crane

(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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