Crane (NYSE:CR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Crane (NYSE:CR) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,162 shares of the conglomerate’s stock after selling 3,966 shares during the period. Mutual of America Capital Management LLC owned 0.09% of Crane worth $8,297,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its stake in shares of Crane by 0.9% in the fourth quarter. Cetera Investment Advisers now owns 8,196 shares of the conglomerate’s stock valued at $1,244,000 after buying an additional 74 shares in the last quarter. NorthRock Partners LLC grew its stake in shares of Crane by 4.2% in the fourth quarter. NorthRock Partners LLC now owns 1,954 shares of the conglomerate’s stock valued at $297,000 after buying an additional 79 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Crane by 4.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,037 shares of the conglomerate’s stock valued at $309,000 after buying an additional 90 shares in the last quarter. Xponance Inc. grew its stake in shares of Crane by 1.8% in the first quarter. Xponance Inc. now owns 5,633 shares of the conglomerate’s stock valued at $863,000 after buying an additional 102 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in shares of Crane by 1.3% in the fourth quarter. Synovus Financial Corp now owns 9,072 shares of the conglomerate’s stock valued at $1,377,000 after buying an additional 114 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CR shares. UBS Group reiterated a “buy” rating and issued a $230.00 target price (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. DA Davidson increased their target price on Crane from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Stifel Nicolaus raised their price objective on Crane from $189.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $187.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.50.

Insider Activity at Crane

In related news, SVP Jason D. Feldman sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total value of $230,230.00. Following the sale, the senior vice president owned 9,796 shares of the company’s stock, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.12% of the company’s stock.

Crane Price Performance

Shares of CR opened at $194.08 on Thursday. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.93 and a beta of 1.26. The stock has a 50 day moving average of $186.30 and a 200-day moving average of $168.83. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 52 week low of $127.04 and a 52 week high of $203.89.

Crane (NYSE:CR) last issued its earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.34 by $0.15. The company had revenue of $577.20 million during 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 business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. As a group, analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a $0.23 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 0.5%. Crane’s dividend payout ratio (DPR) is presently 15.31%.

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.