Van ECK Associates Corp Boosts Stake in Crane (NYSE:CR)

Van ECK Associates Corp increased its position in shares of Crane (NYSE:CR - Free Report) by 35.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,920 shares of the conglomerate's stock after purchasing an additional 10,624 shares during the period. Van ECK Associates Corp owned approximately 0.07% of Crane worth $6,210,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in shares of Crane during the third quarter worth $17,062,000. Massachusetts Financial Services Co. MA lifted its holdings in Crane by 16.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate's stock valued at $103,748,000 after buying an additional 91,029 shares in the last quarter. Walleye Capital LLC boosted its position in Crane by 67.2% in the 3rd quarter. Walleye Capital LLC now owns 93,535 shares of the conglomerate's stock valued at $14,805,000 after buying an additional 37,581 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Crane by 36.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 132,238 shares of the conglomerate's stock valued at $20,068,000 after buying an additional 35,340 shares during the period. Finally, World Investment Advisors LLC bought a new position in Crane in the 3rd quarter worth about $4,459,000. 75.14% of the stock is currently owned by institutional investors.

Crane Stock Down 3.7 %

NYSE CR traded down $6.27 during midday trading on Friday, hitting $165.23. 494,520 shares of the company traded hands, compared to its average volume of 268,104. Crane has a 52 week low of $121.04 and a 52 week high of $188.52. The company's 50-day simple moving average is $161.40 and its 200-day simple moving average is $160.84. The company has a market cap of $9.46 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CR - Get Free Report) last issued 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 quarter in the prior year, the company earned $0.90 EPS. As a group, equities research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 28th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, February 28th. This is a positive change from Crane's previous quarterly dividend of $0.21. Crane's payout ratio is 18.18%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, VP Alejandro Alcala sold 2,293 shares of the business's stock in a transaction 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 transaction, the vice president now directly owns 32,963 shares in the company, valued at $5,635,354.48. The trade was a 6.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by company 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.