Charter Oak Advisors LP Buys New Holdings in Crane (NYSE:CR)

Charter Oak Advisors LP bought a new position in Crane (NYSE:CR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,535 shares of the conglomerate's stock, valued at approximately $4,330,000. Crane comprises about 2.5% of Charter Oak Advisors LP's investment portfolio, making the stock its 11th biggest holding.

A number of other hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its position in Crane by 487.8% in the fourth quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock worth $37,000 after acquiring an additional 200 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Crane by 69.1% in the 4th quarter. UMB Bank n.a. now owns 372 shares of the conglomerate's stock worth $56,000 after purchasing an additional 152 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Crane during the 3rd quarter valued at approximately $86,000. Jones Financial Companies Lllp increased its position in shares of Crane by 17.8% during the 4th quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock valued at $89,000 after purchasing an additional 88 shares during the last quarter. Finally, AlphaQuest LLC purchased a new stake in Crane during the 4th quarter valued at $101,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Trading Up 0.7 %

Shares of NYSE CR traded up $0.94 during trading hours on Friday, reaching $142.51. The stock had a trading volume of 264,630 shares, compared to its average volume of 260,859. Crane has a 52-week low of $127.04 and a 52-week high of $188.52. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The business's fifty day moving average price is $153.92 and its two-hundred day moving average price is $160.57. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 1.93 and a beta of 1.31.

Crane (NYSE:CR - Get Free Report) last posted its earnings results on Monday, January 27th. The conglomerate reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same quarter in the prior year, the business posted $0.90 EPS. Analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a dividend of $0.23 per share. This is a boost from Crane's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Friday, February 28th. Crane's dividend payout ratio is 18.18%.

Insiders Place Their Bets

In other Crane news, VP Alejandro Alcala sold 2,293 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $170.96, for a total value of $392,011.28. Following the completion of the sale, the vice president now owns 32,963 shares of the company's stock, valued at approximately $5,635,354.48. This trade represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CR shares. DA Davidson reiterated a "buy" rating and set a $200.00 price objective on shares of Crane in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft set a $186.00 price objective on shares of Crane and gave the stock a "buy" rating in a research report on Monday, April 14th. Stifel Nicolaus dropped their target price on Crane from $170.00 to $144.00 and set a "hold" rating for the company in a research report on Monday, April 14th. UBS Group increased their price target on Crane from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, January 3rd. Finally, StockNews.com cut Crane from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $170.40.

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.