KLP Kapitalforvaltning AS Makes New Investment in Crane (NYSE:CR)

KLP Kapitalforvaltning AS acquired a new position in shares of Crane (NYSE:CR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,900 shares of the conglomerate's stock, valued at approximately $1,502,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in Crane in the 3rd quarter valued at approximately $515,000. Raymond James Financial Inc. acquired a new stake in shares of Crane in the fourth quarter valued at approximately $12,890,000. Citigroup Inc. lifted its position in shares of Crane by 328.3% in the third quarter. Citigroup Inc. now owns 23,790 shares of the conglomerate's stock worth $3,765,000 after purchasing an additional 18,236 shares in the last quarter. Rhumbline Advisers boosted its holdings in Crane by 2.2% during the fourth quarter. Rhumbline Advisers now owns 135,191 shares of the conglomerate's stock worth $20,515,000 after purchasing an additional 2,953 shares during the last quarter. Finally, Twelve Points Wealth Management LLC grew its position in Crane by 50.5% in the fourth quarter. Twelve Points Wealth Management LLC now owns 9,535 shares of the conglomerate's stock valued at $1,447,000 after purchasing an additional 3,200 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Performance

Crane stock traded up $2.76 during midday trading on Wednesday, reaching $157.69. 336,035 shares of the company's stock were exchanged, compared to its average volume of 250,548. The stock's 50-day simple moving average is $162.04 and its 200 day simple moving average is $162.10. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.93 and a beta of 1.30. 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 52 week low of $128.50 and a 52 week high of $188.52.

Crane (NYSE:CR - Get Free Report) last issued 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 return on equity of 24.45% and a net margin of 13.10%. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, analysts expect 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 issued a dividend of $0.23 per share. This is an increase from Crane's previous quarterly dividend of $0.21. The ex-dividend date was Friday, February 28th. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. Crane's payout ratio is presently 18.18%.

Analyst Upgrades and Downgrades

CR has been the topic of several analyst reports. StockNews.com cut shares of Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. DA Davidson reiterated a "buy" rating and set a $200.00 target price on shares of Crane in a report on Tuesday, March 11th. UBS Group raised 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, Stifel Nicolaus dropped their price objective on Crane from $176.00 to $170.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.80.

Insider Activity at Crane

In related news, VP Alejandro Alcala sold 2,293 shares of the business's stock in a transaction 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 completion of the sale, the vice president now directly owns 32,963 shares in the company, valued at $5,635,354.48. The trade was a 6.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.12% of the stock is owned by company insiders.

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.