DLK Investment Management LLC Acquires New Shares in Crane (NYSE:CR)

DLK Investment Management LLC purchased a new position in shares of Crane (NYSE:CR - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,654 shares of the conglomerate's stock, valued at approximately $895,000.

Other hedge funds have also bought and sold shares of the company. Matrix Trust Co acquired a new position in shares of Crane in the 3rd quarter worth approximately $25,000. Covestor Ltd increased its stake in shares of Crane by 150.6% in the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate's stock valued at $30,000 after acquiring an additional 131 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Crane in the 2nd quarter valued at $31,000. UMB Bank n.a. increased its stake in shares of Crane by 81.8% in the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 99 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Crane by 29.9% in the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate's stock valued at $66,000 after acquiring an additional 112 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CR shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Crane from $175.00 to $182.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Stifel Nicolaus upped their target price on shares of Crane from $157.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Crane currently has an average rating of "Moderate Buy" and an average target price of $156.17.

Crane Price Performance

CR stock traded up $3.65 during midday trading on Friday, hitting $158.73. The company's stock had a trading volume of 182,033 shares, compared to its average volume of 229,348. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 42.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Crane has a 12 month low of $82.57 and a 12 month high of $162.34. The company has a 50 day moving average of $151.89 and a two-hundred day moving average of $146.44.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $581.00 million for the quarter, compared to the consensus estimate of $568.33 million. During the same quarter in the prior year, the company earned $1.10 EPS. The business's revenue was up 14.0% compared to the same quarter last year. On average, analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were issued a $0.205 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. Crane's dividend payout ratio is presently 21.98%.

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.