Gabelli Funds LLC Has $120.54 Million Stake in Crane (NYSE:CR)

Gabelli Funds LLC trimmed its position in shares of Crane (NYSE:CR - Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 794,348 shares of the conglomerate's stock after selling 29,900 shares during the period. Crane accounts for approximately 0.9% of Gabelli Funds LLC's holdings, making the stock its 19th biggest position. Gabelli Funds LLC owned approximately 1.39% of Crane worth $120,542,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CR. PNC Financial Services Group Inc. grew its position in Crane by 0.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,625 shares of the conglomerate's stock valued at $2,371,000 after buying an additional 65 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Crane by 5.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,455 shares of the conglomerate's stock worth $221,000 after acquiring an additional 71 shares during the period. Stonegate Investment Group LLC boosted its holdings in shares of Crane by 5.3% in the fourth quarter. Stonegate Investment Group LLC now owns 1,439 shares of the conglomerate's stock valued at $218,000 after acquiring an additional 72 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Crane by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,975 shares of the conglomerate's stock valued at $2,845,000 after acquiring an additional 85 shares during the period. Finally, M&T Bank Corp lifted its position in Crane by 1.2% in the third quarter. M&T Bank Corp now owns 7,336 shares of the conglomerate's stock worth $1,161,000 after purchasing an additional 86 shares during the period. 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 Crane stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $170.96, for a total transaction of $392,011.28. Following the completion of the sale, the vice president now owns 32,963 shares of the company's stock, valued at approximately $5,635,354.48. This trade represents a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on CR. Deutsche Bank Aktiengesellschaft set a $186.00 target price on Crane and gave the stock a "buy" rating in a report on Monday, April 14th. DA Davidson reiterated a "buy" rating and issued a $200.00 target price on shares of Crane in a report on Tuesday, March 11th. Stifel Nicolaus reduced their target price on shares of Crane from $170.00 to $144.00 and set a "hold" rating for the company in a report on Monday, April 14th. StockNews.com lowered shares of Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, UBS Group increased their price objective on Crane from $152.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $170.40.

Crane Trading Up 0.7 %

Shares of NYSE:CR traded up $0.94 during mid-day trading on Friday, hitting $142.51. The stock had a trading volume of 264,630 shares, compared to its average volume of 260,859. The company's 50 day moving average is $153.92 and its 200-day moving average is $160.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 12-month low of $127.04 and a 12-month high of $188.52. The company has a market cap of $8.18 billion, a PE ratio of 18.88, a P/E/G ratio of 1.93 and a beta of 1.31.

Crane (NYSE:CR - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share 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 quarter in the prior year, the business earned $0.90 EPS. On average, sell-side analysts predict that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were issued a dividend of $0.23 per share. This is a boost from Crane's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, February 28th. Crane's dividend payout ratio (DPR) is currently 18.18%.

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.