Atria Investments Inc Cuts Stock Position in Crane (NYSE:CR)

Atria Investments Inc cut its holdings in Crane (NYSE:CR) by 30.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,553 shares of the conglomerate’s stock after selling 678 shares during the period. Atria Investments Inc’s holdings in Crane were worth $246,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC purchased a new stake in shares of Crane in the third quarter valued at $208,000. Consolidated Planning Corp purchased a new position in Crane during the 3rd quarter valued at $211,000. Radnor Capital Management LLC bought a new position in shares of Crane in the third quarter worth about $1,897,000. Van ECK Associates Corp boosted its position in Crane by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 30,296 shares of the conglomerate’s stock valued at $4,599,000 after buying an additional 8,658 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Crane by 3.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,071 shares of the conglomerate’s stock worth $1,751,000 after acquiring an additional 380 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Crane Stock Up 0.7 %

Shares of CR stock opened at $184.36 on Friday. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The stock’s fifty day moving average price is $161.99 and its 200 day moving average price is $152.71. Crane has a 1-year low of $102.80 and a 1-year high of $185.55.

Crane (NYSE:CR) last issued its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. During the same quarter last year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, research analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.44%. Crane’s payout ratio is 18.06%.

Analyst Ratings Changes

CR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Crane presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

About Crane

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.