Vaughan Nelson Investment Management L.P. Cuts Stake in Crane (NYSE:CR)

Vaughan Nelson Investment Management L.P. lowered its position in shares of Crane (NYSE:CRFree Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,049 shares of the conglomerate’s stock after selling 2,630 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.28% of Crane worth $21,628,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CR. Vanguard Group Inc. grew its stake in Crane by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate’s stock valued at $578,282,000 after purchasing an additional 16,167 shares during the last quarter. Capital World Investors grew its stake in Crane by 4.0% in the fourth quarter. Capital World Investors now owns 2,095,540 shares of the conglomerate’s stock valued at $247,567,000 after purchasing an additional 79,710 shares during the last quarter. Congress Asset Management Co. MA grew its stake in Crane by 0.5% in the fourth quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock valued at $156,282,000 after purchasing an additional 6,605 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 during the last quarter. Finally, Capital International Investors grew its stake in Crane by 44.7% in the fourth quarter. Capital International Investors now owns 663,221 shares of the conglomerate’s stock valued at $78,353,000 after purchasing an additional 204,924 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CR. StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. Stifel Nicolaus reissued a “buy” rating and issued a $157.00 price target on shares of Crane in a report on Wednesday, May 15th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. UBS Group raised their price target on Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Finally, Bank of America raised their price target on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.67.

View Our Latest Report on CR

Crane Trading Down 0.1 %

Crane stock opened at $142.89 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a 52 week low of $82.57 and a 52 week high of $150.01. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 38.31, a price-to-earnings-growth ratio of 1.93 and a beta of 0.87. The stock has a 50-day moving average price of $144.38 and a 200 day moving average price of $131.42.

Crane (NYSE:CRGet Free Report) last released its earnings results on Monday, April 22nd. The conglomerate reported $1.22 EPS 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 firm had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, May 31st. Crane’s dividend payout ratio (DPR) is 21.98%.

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.

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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