Cynosure Group LLC raised its holdings in Crane (NYSE:CR - Free Report) by 149.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,013 shares of the conglomerate's stock after buying an additional 3,604 shares during the period. Cynosure Group LLC's holdings in Crane were worth $912,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in Crane by 328.3% during the 3rd quarter. Citigroup Inc. now owns 23,790 shares of the conglomerate's stock worth $3,765,000 after buying an additional 18,236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Crane by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,902 shares of the conglomerate's stock worth $1,726,000 after buying an additional 210 shares in the last quarter. Verition Fund Management LLC increased its holdings in Crane by 11.1% in the 3rd quarter. Verition Fund Management LLC now owns 8,037 shares of the conglomerate's stock valued at $1,272,000 after buying an additional 806 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Crane during the third quarter valued at approximately $518,000. Finally, Paloma Partners Management Co bought a new stake in Crane during the third quarter worth $293,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.
Crane Trading Down 6.0 %
CR stock traded down $8.78 during midday trading on Friday, hitting $137.09. The stock had a trading volume of 534,825 shares, compared to its average volume of 252,752. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm has a market cap of $7.87 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 1.93 and a beta of 1.31. The business has a fifty day moving average price of $161.22 and a two-hundred day moving average price of $161.94. Crane has a 1-year low of $128.50 and a 1-year high of $188.52.
Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The conglomerate reported $1.26 earnings per share (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 period in the prior year, the business posted $0.90 EPS. On average, sell-side analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.
Crane Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, February 28th. This is an increase from Crane's previous quarterly dividend of $0.21. Crane's payout ratio is presently 18.18%.
Insiders Place Their Bets
In other Crane 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 in the company, valued at approximately $5,635,354.48. This represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company's stock.
Wall Street Analyst Weigh In
CR has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price target on shares of Crane from $176.00 to $170.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. DA Davidson reaffirmed a "buy" rating and set a $200.00 target price on shares of Crane in a research note on Tuesday, March 11th. UBS Group increased their price target on Crane from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, January 3rd. Finally, StockNews.com lowered Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Crane currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.80.
Check Out Our Latest Research Report on Crane
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.
Featured Articles
Before you consider Crane, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Crane wasn't on the list.
While Crane currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
