Polar Asset Management Partners Inc. Decreases Stake in Crane (NYSE:CR)

Polar Asset Management Partners Inc. decreased its position in Crane (NYSE:CR - Free Report) by 22.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,800 shares of the conglomerate's stock after selling 4,000 shares during the period. Polar Asset Management Partners Inc.'s holdings in Crane were worth $2,184,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CR. Matrix Trust Co bought a new stake in shares of Crane during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new position in Crane in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new position in shares of Crane during the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new stake in shares of Crane during the 2nd quarter worth approximately $31,000. Finally, UMB Bank n.a. increased its stake in shares of Crane by 81.8% in the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 99 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on CR. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crane from $175.00 to $182.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Stifel Nicolaus downgraded Crane from a "buy" rating to a "hold" rating and set a $176.00 target price for the company. in a research note on Monday, November 18th. 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $167.00.

Crane Stock Up 0.1 %

Shares of Crane stock traded up $0.20 during trading hours on Friday, reaching $176.37. The company's stock had a trading volume of 186,954 shares, compared to its average volume of 233,340. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock's fifty day simple moving average is $166.70 and its two-hundred day simple moving average is $154.90. The company has a market capitalization of $10.09 billion, a P/E ratio of 38.85, a P/E/G ratio of 1.93 and a beta of 0.93. Crane has a one year low of $102.80 and a one year high of $188.52.

Crane (NYSE:CR - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, topping the consensus estimate of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same period in the prior year, the business posted $1.03 earnings per share. The company's quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Friday, November 29th. Crane's dividend payout ratio is 18.06%.

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.