Crane (NYSE:CR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in Crane (NYSE:CR) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,308 shares of the conglomerate’s stock after selling 9,354 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Crane worth $11,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in shares of Crane during the fourth quarter worth $5,532,000. Aviva PLC purchased a new stake in shares of Crane during the fourth quarter worth $538,000. Golden State Wealth Management LLC grew its holdings in shares of Crane by 104.8% during the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate’s stock worth $39,000 after buying an additional 131 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Crane during the first quarter worth $18,835,000. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Crane during the first quarter worth $1,132,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Jason D. Feldman sold 1,300 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total transaction of $230,230.00. Following the completion of the sale, the senior vice president owned 9,796 shares in the company, valued at approximately $1,734,871.60. The trade was a 11.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CR. Stifel Nicolaus raised their target price on shares of Crane from $144.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, April 30th. DA Davidson reiterated a “buy” rating and issued a $200.00 price target on shares of Crane in a research note on Tuesday, June 10th. 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 note on Tuesday, June 10th. Finally, UBS Group set a $215.00 price target on shares of Crane and gave the company a “buy” rating in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.75.

Crane Price Performance

Crane stock opened at $189.13 on Friday. Crane has a one year low of $127.04 and a one year high of $195.00. 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 business has a fifty day moving average of $181.51 and a two-hundred day moving average of $165.40. The company has a market cap of $10.88 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26.

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

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Friday, May 30th. Crane’s payout ratio is currently 15.94%.

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.