HB Wealth Management LLC Takes $339,000 Position in Crane (NYSE:CR)

HB Wealth Management LLC acquired a new position in Crane (NYSE:CR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,214 shares of the conglomerate’s stock, valued at approximately $339,000.

A number of other hedge funds have also bought and sold shares of the business. Huntington National Bank increased its position in shares of Crane by 487.8% during the fourth quarter. Huntington National Bank now owns 241 shares of the conglomerate’s stock valued at $37,000 after buying an additional 200 shares during the period. Golden State Wealth Management LLC increased its holdings in Crane by 104.8% during the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate’s stock worth $39,000 after acquiring an additional 131 shares during the period. Fifth Third Bancorp lifted its stake in Crane by 31.4% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate’s stock worth $87,000 after purchasing an additional 136 shares in the last quarter. UMB Bank n.a. lifted its stake in Crane by 84.7% in the 1st quarter. UMB Bank n.a. now owns 687 shares of the conglomerate’s stock worth $105,000 after purchasing an additional 315 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in Crane in the 1st quarter valued at $105,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Trading Down 1.3%

NYSE CR opened at $193.28 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The stock’s 50-day simple moving average is $184.93 and its two-hundred day simple moving average is $168.01. Crane has a twelve month low of $127.04 and a twelve month high of $203.89. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.93 and a beta of 1.26.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, beating the consensus estimate of $1.34 by $0.15. The firm had revenue of $577.20 million for the quarter, compared to analyst estimates of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 EPS. Research analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.5%. Crane’s dividend payout ratio is 15.31%.

Insider Activity

In related news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction 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 transaction, the senior vice president owned 9,796 shares in the company, valued at $1,734,871.60. This trade represents a 11.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.12% of the company’s stock.

Analyst Upgrades and Downgrades

CR has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating and issued a $230.00 price objective (up previously from $215.00) on shares of Crane in a research report on Wednesday. DA Davidson raised their price target on Crane from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Crane from $187.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Finally, Stifel Nicolaus raised their target price on shares of Crane from $189.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.50.

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.