Crane (NYSE:CR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Crane (NYSE:CR - Free Report) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 413,723 shares of the conglomerate's stock after acquiring an additional 29,538 shares during the period. Bank of New York Mellon Corp owned approximately 0.72% of Crane worth $62,782,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Crane during the third quarter worth $37,000. Millburn Ridgefield Corp acquired a new stake in Crane in the third quarter valued at $45,000. Truvestments Capital LLC acquired a new stake in Crane in the third quarter valued at $56,000. UMB Bank n.a. raised its stake in Crane by 69.1% in the fourth quarter. UMB Bank n.a. now owns 372 shares of the conglomerate's stock valued at $56,000 after buying an additional 152 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Crane during the third quarter worth about $86,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Stock Performance

CR traded up $2.70 during trading on Friday, reaching $154.29. The company's stock had a trading volume of 372,401 shares, compared to its average volume of 227,834. Crane has a 52-week low of $127.82 and a 52-week high of $188.52. The company's fifty day moving average price is $161.82 and its 200-day moving average price is $161.55. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.93 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.

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Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same period last year, the firm posted $0.90 EPS. On average, equities analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.23 per share. This is a positive change from Crane's previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 28th. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. Crane's payout ratio is 18.18%.

Insider Transactions at Crane

In other news, VP Alejandro Alcala sold 2,293 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $170.96, for a total transaction of $392,011.28. Following the sale, the vice president now owns 32,963 shares of the company's stock, valued at $5,635,354.48. The trade was a 6.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CR shares. UBS Group lifted their target price on Crane from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, January 3rd. Stifel Nicolaus lowered their price target on Crane from $176.00 to $170.00 and set a "hold" rating on the stock in a report on Friday, January 24th. StockNews.com lowered Crane from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, DA Davidson raised their price target on Crane from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $174.80.

About Crane

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.