Geode Capital Management LLC Cuts Stock Position in Crane (NYSE:CR)

Geode Capital Management LLC reduced its stake in shares of Crane (NYSE:CR - Free Report) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 814,255 shares of the conglomerate's stock after selling 139,526 shares during the quarter. Geode Capital Management LLC owned about 1.42% of Crane worth $128,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Matrix Trust Co purchased a new stake in shares of Crane in the third quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Crane in the third quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new stake in shares of Crane in the third quarter valued at about $30,000. UMB Bank n.a. raised 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 valued at $35,000 after buying an additional 99 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Crane in the third quarter valued at about $37,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Trading Down 0.1 %

NYSE CR traded down $0.14 during mid-day trading on Wednesday, reaching $159.53. 60,787 shares of the stock were exchanged, compared to its average volume of 235,153. Crane has a 1-year low of $110.49 and a 1-year high of $188.52. The business's fifty day simple moving average is $168.38 and its 200 day simple moving average is $156.19. The stock has a market capitalization of $9.13 billion, a PE ratio of 35.20, a PEG ratio of 1.93 and a beta of 0.93. 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 (NYSE:CR - Get Free Report) last announced its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.06. The firm had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. On average, research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, November 29th. Crane's dividend payout ratio is currently 18.06%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CR shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Crane from $175.00 to $182.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Stifel Nicolaus cut shares of Crane from a "buy" rating to a "hold" rating and set a $176.00 price target for the company. in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $167.00.

Crane Company 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.