Park Avenue Securities LLC increased its position in shares of Crane (NYSE:CR – Free Report) by 15.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,158 shares of the conglomerate’s stock after purchasing an additional 412 shares during the quarter. Park Avenue Securities LLC’s holdings in Crane were worth $479,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CR. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Crane by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,975 shares of the conglomerate’s stock worth $2,845,000 after purchasing an additional 85 shares during the last quarter. M&T Bank Corp grew its holdings in Crane by 1.2% during the 3rd quarter. M&T Bank Corp now owns 7,336 shares of the conglomerate’s stock worth $1,161,000 after acquiring an additional 86 shares during the last quarter. Griffin Asset Management Inc. increased its position in Crane by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 34,038 shares of the conglomerate’s stock valued at $5,388,000 after acquiring an additional 90 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Crane by 2.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,530 shares of the conglomerate’s stock worth $561,000 after acquiring an additional 96 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Crane by 81.8% during the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 99 shares in the last quarter. 75.14% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crane from $175.00 to $182.00 and gave the company 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 for the company. in a research note on Monday, November 18th. Finally, UBS Group upped their price target on Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.00.
Crane Stock Performance
Shares of Crane stock opened at $162.96 on Friday. The firm has a fifty day moving average of $164.24 and a two-hundred day moving average of $158.03. 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 stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.93 and a beta of 1.22. Crane has a 52 week low of $110.49 and a 52 week high of $188.52.
Crane (NYSE:CR – Get Free Report) last released its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating 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 business had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts predict 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, December 11th. Shareholders of record on Friday, November 29th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, November 29th. Crane’s payout ratio is presently 18.06%.
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.
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