Teacher Retirement System of Texas lessened its stake in Crane (NYSE:CR - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,319 shares of the conglomerate's stock after selling 9,357 shares during the quarter. Teacher Retirement System of Texas owned about 0.11% of Crane worth $9,153,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new position in shares of Crane in the fourth quarter valued at $45,127,000. Point72 Asset Management L.P. purchased a new position in Crane in the 3rd quarter valued at about $17,062,000. Massachusetts Financial Services Co. MA grew its stake in shares of Crane by 16.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate's stock valued at $103,748,000 after acquiring an additional 91,029 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Crane in the fourth quarter worth about $12,890,000. Finally, Walleye Capital LLC boosted its holdings in Crane by 67.2% in the third quarter. Walleye Capital LLC now owns 93,535 shares of the conglomerate's stock valued at $14,805,000 after purchasing an additional 37,581 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.
Insider Activity at Crane
In related news, VP Alejandro Alcala sold 2,293 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $170.96, for a total value of $392,011.28. Following the completion of the transaction, the vice president now owns 32,963 shares in the company, valued at $5,635,354.48. This represents a 6.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by insiders.
Crane Stock Performance
Shares of NYSE:CR traded down $0.05 during trading on Thursday, reaching $156.02. 335,142 shares of the company's stock traded hands, compared to its average volume of 236,769. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The company has a 50 day moving average of $162.38 and a 200-day moving average of $161.86. Crane has a 12 month low of $128.50 and a 12 month high of $188.52. The stock has a market capitalization of $8.96 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.93 and a beta of 1.30.
Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the business posted $0.90 EPS. On average, equities analysts expect that Crane will post 7.87 EPS for the current year.
Crane Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, February 28th. This is a boost from Crane's previous quarterly dividend of $0.21. Crane's dividend payout ratio (DPR) is 18.18%.
Analyst Ratings Changes
A number of equities analysts have issued reports on CR shares. Stifel Nicolaus cut their target price on Crane from $176.00 to $170.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. UBS Group increased their price objective 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. DA Davidson reissued a "buy" rating and issued a $200.00 target price on shares of Crane in a research report on Tuesday, March 11th. Finally, StockNews.com cut shares of Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Crane has a consensus rating of "Moderate Buy" and a consensus price target of $174.80.
View Our Latest Stock Report on CR
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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