Renaissance Technologies LLC Acquires 13,500 Shares of Crane (NYSE:CR)

Renaissance Technologies LLC grew its position in Crane (NYSE:CR) by 204.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,100 shares of the conglomerate’s stock after acquiring an additional 13,500 shares during the period. Renaissance Technologies LLC’s holdings in Crane were worth $2,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CR. Dimensional Fund Advisors LP lifted its position in Crane by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock valued at $111,882,000 after acquiring an additional 70,297 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Crane by 7.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 564,441 shares of the conglomerate’s stock valued at $81,833,000 after acquiring an additional 38,310 shares in the last quarter. WINTON GROUP Ltd raised its holdings in Crane by 70.7% in the 2nd quarter. WINTON GROUP Ltd now owns 123,961 shares of the conglomerate’s stock valued at $17,972,000 after acquiring an additional 51,342 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Crane by 4.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 112,797 shares of the conglomerate’s stock worth $16,353,000 after buying an additional 4,355 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Crane by 9.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 23,324 shares of the conglomerate’s stock worth $3,382,000 after buying an additional 2,086 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Trading Up 0.6 %

Shares of Crane stock opened at $158.35 on Tuesday. The company has a market capitalization of $9.05 billion, a P/E ratio of 42.45, a P/E/G ratio of 1.93 and a beta of 0.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a fifty day moving average of $151.80 and a 200 day moving average of $145.25. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $162.34.

Crane (NYSE:CR) last announced its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.06. The firm had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $568.33 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. On average, sell-side analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were paid a dividend of $0.205 per share. The ex-dividend date was Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.52%. Crane’s dividend payout ratio is currently 21.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Crane from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price objective on Crane from $157.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.00.

Crane Company Profile

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.