Allspring Global Investments Holdings LLC trimmed its holdings in Crane (NYSE:CR - Free Report) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,002 shares of the conglomerate's stock after selling 4,010 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Crane worth $9,663,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in CR. Creative Planning lifted its position in shares of Crane by 17.6% in the third quarter. Creative Planning now owns 14,983 shares of the conglomerate's stock worth $2,372,000 after buying an additional 2,247 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Crane in the third quarter worth about $28,000. Blue Trust Inc. lifted its position in shares of Crane by 43.1% in the third quarter. Blue Trust Inc. now owns 697 shares of the conglomerate's stock worth $101,000 after buying an additional 210 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of Crane in the third quarter worth about $240,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Crane by 390.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,890 shares of the conglomerate's stock worth $2,832,000 after buying an additional 14,241 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, VP Alejandro Alcala sold 2,293 shares of the stock in a transaction that occurred on 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 owns 32,963 shares of the company's stock, valued at $5,635,354.48. This represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. DA Davidson boosted their target price on Crane from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. UBS Group boosted their price objective on Crane from $152.00 to $157.00 and gave the stock 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 note on Friday, February 14th. Finally, Stifel Nicolaus reduced their price objective on Crane from $176.00 to $170.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $174.80.
View Our Latest Analysis on Crane
Crane Trading Down 3.7 %
NYSE CR traded down $6.27 during trading hours on Friday, hitting $165.23. 494,520 shares of the company were exchanged, compared to its average volume of 267,340. The stock 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 stock has a 50-day moving average price of $161.39 and a 200 day moving average price of $160.67. Crane has a 52 week low of $121.04 and a 52 week high of $188.52. 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 released 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 return on equity of 24.45% and a net margin of 13.10%. During the same quarter in the previous year, the business earned $0.90 EPS. Analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.
Crane Increases Dividend
The firm also recently announced 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 boost from Crane's previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. Crane's dividend payout ratio is currently 18.18%.
About Crane
(
Free Report)
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.
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