Entropy Technologies LP Buys New Stake in Crane (NYSE:CR)

Entropy Technologies LP acquired a new position in shares of Crane (NYSE:CR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,800 shares of the conglomerate's stock, valued at approximately $1,032,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of Crane during the 3rd quarter valued at $17,062,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Crane by 16.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate's stock valued at $103,748,000 after buying an additional 91,029 shares during the period. Walleye Capital LLC boosted its stake in shares of Crane by 67.2% during the 3rd quarter. Walleye Capital LLC now owns 93,535 shares of the conglomerate's stock valued at $14,805,000 after buying an additional 37,581 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Crane during the 3rd quarter valued at $4,459,000. Finally, Citigroup Inc. boosted its stake in shares of Crane by 328.3% during the 3rd quarter. Citigroup Inc. now owns 23,790 shares of the conglomerate's stock valued at $3,765,000 after buying an additional 18,236 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Alejandro Alcala sold 2,293 shares of Crane stock in a transaction on Thursday, February 6th. The shares were 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 $5,635,354.48. This trade represents a 6.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.40% of the company's stock.

Crane Stock Up 1.9 %

Shares of CR stock traded up $3.21 on Friday, hitting $171.83. The company's stock had a trading volume of 220,963 shares, compared to its average volume of 266,855. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a fifty-two week low of $118.48 and a fifty-two week high of $188.52. The firm's fifty day moving average price is $161.13 and its 200-day moving average price is $160.14. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 1.93 and a beta of 1.24.

Crane (NYSE:CR - Get Free Report) last announced its earnings results on Monday, January 27th. The conglomerate reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same period in the prior year, the firm posted $0.90 EPS. Research analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Crane's previous quarterly dividend of $0.21. Crane's dividend payout ratio (DPR) is 18.18%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. DA Davidson lifted their target price on shares of Crane from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. UBS Group lifted their target price 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. Stifel Nicolaus reduced their price objective on shares of Crane from $176.00 to $170.00 and set a "hold" rating for the company in a research note on Friday, January 24th. Finally, StockNews.com raised shares of Crane from a "hold" rating to a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Crane currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.80.

Crane 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.