Neuberger Berman Group LLC Buys 72,417 Shares of Crane (NYSE:CR)

Neuberger Berman Group LLC raised its stake in Crane (NYSE:CR - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 772,756 shares of the conglomerate's stock after purchasing an additional 72,417 shares during the period. Neuberger Berman Group LLC owned 1.35% of Crane worth $117,266,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP acquired a new stake in Crane in the 3rd quarter valued at $37,000. Huntington National Bank grew its holdings in shares of Crane by 487.8% during the fourth quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock valued at $37,000 after buying an additional 200 shares during the last quarter. UMB Bank n.a. increased its position in shares of Crane by 69.1% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the conglomerate's stock worth $56,000 after acquiring an additional 152 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Crane in the 3rd quarter worth about $86,000. Finally, Jones Financial Companies Lllp lifted its position in Crane by 17.8% in the 4th quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock valued at $89,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Wall Street Analysts Forecast Growth

CR has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on Crane from $170.00 to $144.00 and set a "hold" rating for the company in a report on Monday. UBS Group raised their price objective on Crane from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, January 3rd. DA Davidson reiterated a "buy" rating and issued a $200.00 target price on shares of Crane in a research note on Tuesday, March 11th. Finally, StockNews.com lowered shares of Crane from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Crane currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.60.

Insider Activity

In related news, VP Alejandro Alcala sold 2,293 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.12% of the company's stock.

Crane Stock Performance

Shares of NYSE:CR traded up $0.87 during midday trading on Tuesday, reaching $142.17. The company had a trading volume of 95,423 shares, compared to its average volume of 258,063. The stock has a market cap of $8.16 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.93 and a beta of 1.31. The company's 50 day moving average price is $156.35 and its 200 day moving average price is $161.03. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 52-week low of $127.04 and a 52-week high of $188.52.

Crane (NYSE:CR - Get Free Report) last released its 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 net margin of 13.10% and a return on equity of 24.45%. During the same period in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Crane's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 0.65%. Crane's payout ratio is presently 18.18%.

About Crane

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.