Ritholtz Wealth Management Purchases 395 Shares of Crane (NYSE:CR)

Ritholtz Wealth Management boosted its position in shares of Crane (NYSE:CR) by 6.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,932 shares of the conglomerate’s stock after purchasing an additional 395 shares during the quarter. Ritholtz Wealth Management’s holdings in Crane were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CR. Norges Bank bought a new stake in Crane during the 4th quarter worth about $144,961,000. Alliancebernstein L.P. raised its holdings in Crane by 619.4% during the 4th quarter. Alliancebernstein L.P. now owns 499,656 shares of the conglomerate’s stock worth $75,823,000 after purchasing an additional 430,201 shares during the last quarter. Capital World Investors increased its stake in shares of Crane by 16.9% in the 4th quarter. Capital World Investors now owns 2,455,854 shares of the conglomerate’s stock valued at $372,676,000 after acquiring an additional 355,765 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Crane in the 4th quarter valued at approximately $45,127,000. Finally, Select Equity Group L.P. raised its position in shares of Crane by 25.2% in the 4th quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate’s stock valued at $114,445,000 after acquiring an additional 151,717 shares during the period. 75.14% of the stock is owned by institutional investors.

Crane Price Performance

NYSE CR opened at $178.78 on Wednesday. The business has a 50 day simple moving average of $165.20 and a 200 day simple moving average of $161.49. Crane has a 52-week low of $127.04 and a 52-week high of $191.00. 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 cap of $10.28 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.93 and a beta of 1.24.

Crane (NYSE:CR) last posted its earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $557.60 million during the quarter, compared to analysts’ expectations of $546.93 million. During the same period in the prior year, the business earned $1.22 EPS. Crane’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 0.51%. Crane’s payout ratio is 15.94%.

Insider Buying and Selling

In other news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total value of $230,230.00. Following the sale, the senior vice president now directly owns 9,796 shares in the company, valued at $1,734,871.60. This trade represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Crane from $144.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, April 30th. UBS Group set a $215.00 price target on shares of Crane and gave the company a “buy” rating in a research report on Tuesday, June 10th. DA Davidson reiterated a “buy” rating and issued a $200.00 price target on shares of Crane in a research report on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Crane from $187.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Crane has an average rating of “Moderate Buy” and a consensus target price of $197.75.

Crane 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.