Crane (NYSE:CR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of Crane (NYSE:CR - Free Report) by 89.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,606 shares of the conglomerate's stock after selling 21,430 shares during the quarter. Franklin Resources Inc.'s holdings in Crane were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CR. Matrix Trust Co bought a new stake in Crane during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in Crane in the 3rd quarter worth $28,000. ORG Wealth Partners LLC purchased a new stake in Crane in the 3rd quarter worth $30,000. UMB Bank n.a. lifted its holdings in shares of Crane by 81.8% in 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 purchased a new stake in Crane in the 3rd quarter worth $37,000. Institutional investors own 75.14% of the company's stock.

Crane Stock Down 0.3 %

Shares of CR stock traded down $0.44 during mid-day trading on Wednesday, hitting $151.75. 231,290 shares of the stock traded hands, compared to its average volume of 237,295. The stock's fifty day moving average is $167.53 and its two-hundred day moving average is $156.91. 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 52-week low of $110.49 and a 52-week high of $188.52. The stock has a market cap of $8.68 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.93 and a beta of 0.93.

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, beating 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 analyst estimates of $594.45 million. During the same quarter in the prior year, the business posted $1.03 EPS. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently declared 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 dividend yield of 0.54%. Crane's dividend payout ratio is currently 18.06%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CR. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Crane from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Stifel Nicolaus cut Crane from a "buy" rating to a "hold" rating and set a $176.00 target price on the stock. in a research note on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and five 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 $167.00.

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.