Congress Asset Management Co. Sells 42,083 Shares of Crane (NYSE:CR)

Congress Asset Management Co. lessened its holdings in Crane (NYSE:CR - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 756,107 shares of the conglomerate's stock after selling 42,083 shares during the period. Congress Asset Management Co. owned about 1.32% of Crane worth $114,739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Crane in the third quarter worth $28,000. Quarry LP acquired a new stake in Crane during the third quarter valued at $37,000. Millburn Ridgefield Corp acquired a new stake in Crane during the third quarter valued at $45,000. Truvestments Capital LLC acquired a new stake in Crane during the third quarter valued at $56,000. Finally, UMB Bank n.a. boosted its position in Crane by 69.1% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the conglomerate's stock valued at $56,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Crane Stock Up 0.5 %

Shares of NYSE:CR traded up $0.80 on Wednesday, reaching $173.40. The company had a trading volume of 250,876 shares, compared to its average volume of 262,462. Crane has a twelve month low of $118.48 and a twelve month high of $188.52. The stock has a 50-day moving average price of $161.23 and a 200 day moving average price of $160.50. The stock has a market capitalization of $9.92 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.93 and a beta of 1.25. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, topping 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 in the previous year, the company earned $0.90 earnings per share. On average, equities analysts expect that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Crane's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. Crane's payout ratio is presently 18.18%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CR shares. Stifel Nicolaus reduced their price objective on Crane from $176.00 to $170.00 and set a "hold" rating for the company in a research report on Friday, January 24th. UBS Group lifted their price objective on Crane from $152.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, January 3rd. DA Davidson lifted their price objective on Crane from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, StockNews.com raised Crane from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.80.

Insider Transactions at Crane

In other news, VP Alejandro Alcala sold 2,293 shares of Crane 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 transaction, the vice president now directly owns 32,963 shares in the company, valued at approximately $5,635,354.48. The trade was a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

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.