Diversify Advisory Services LLC Purchases New Position in Crane (NYSE:CR)

Diversify Advisory Services LLC purchased a new position in Crane (NYSE:CRFree Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,590 shares of the conglomerate’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in shares of Crane by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after buying an additional 99 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Crane during the fourth quarter worth about $90,000. SkyOak Wealth LLC purchased a new stake in Crane in the first quarter worth about $203,000. Sutton Place Investors LLC bought a new position in shares of Crane during the first quarter valued at approximately $206,000. Finally, InTrack Investment Management Inc purchased a new position in shares of Crane during the first quarter valued at approximately $210,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Price Performance

CR opened at $142.84 on Monday. The company’s 50-day simple moving average is $144.41 and its two-hundred day simple moving average is $132.08. Crane has a 52-week low of $82.57 and a 52-week high of $150.01. The stock has a market capitalization of $8.16 billion, a P/E ratio of 38.29, a P/E/G ratio of 1.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.

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

Crane Announces Dividend

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

Wall Street Analyst Weigh In

CR has been the topic of several recent research reports. 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. Bank of America increased their target price on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. UBS Group lifted their price target on Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Stifel Nicolaus restated a “buy” rating and set a $157.00 price objective on shares of Crane in a research note on Wednesday, May 15th. Finally, Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.67.

Check Out Our Latest Research Report 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

Institutional Ownership by Quarter for Crane (NYSE:CR)

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