Synovus Financial Corp Has $1.42 Million Stock Holdings in Crane (NYSE:CR)

Synovus Financial Corp trimmed its stake in shares of Crane (NYSE:CR - Free Report) by 36.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 8,958 shares of the conglomerate's stock after selling 5,147 shares during the quarter. Synovus Financial Corp's holdings in Crane were worth $1,418,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CR. Matrix Trust Co acquired a new stake in shares of Crane in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in Crane in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new stake in shares of Crane during the third quarter worth $30,000. UMB Bank n.a. increased its holdings in shares of Crane by 81.8% during the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate's stock worth $35,000 after buying an additional 99 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Crane in the 3rd quarter valued at $37,000. Institutional investors own 75.14% of the company's stock.

Crane Trading Down 0.4 %

CR stock traded down $0.63 during trading on Monday, hitting $164.34. The company had a trading volume of 235,920 shares, compared to its average volume of 235,822. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a one year low of $110.20 and a one year high of $188.52. The business has a 50-day moving average of $168.32 and a 200-day moving average of $156.12. The stock has a market cap of $9.41 billion, a PE ratio of 36.20, a PEG ratio of 1.93 and a beta of 0.93.

Crane (NYSE:CR - Get Free Report) last announced its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.06. The business had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were issued a $0.205 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.50%. Crane's payout ratio is currently 18.06%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CR. 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 report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $175.00 to $182.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Crane presently has an average rating of "Moderate Buy" and a consensus price target of $167.00.

Crane Company 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.