Crane (NYSE:CR) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its position in Crane (NYSE:CR - Free Report) by 42.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,104 shares of the conglomerate's stock after acquiring an additional 11,034 shares during the quarter. Millennium Management LLC owned about 0.06% of Crane worth $5,379,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CR. Covenant Partners LLC raised its holdings in Crane by 20.4% in the fourth quarter. Covenant Partners LLC now owns 3,456 shares of the conglomerate's stock worth $408,000 after purchasing an additional 585 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Crane during the 4th quarter valued at $237,000. Congress Asset Management Co. MA increased its stake in shares of Crane by 0.5% in the 4th quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate's stock worth $156,282,000 after purchasing an additional 6,605 shares in the last quarter. SageView Advisory Group LLC bought a new position in Crane in the 4th quarter worth $443,000. Finally, Vanguard Group Inc. grew its holdings in Crane by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate's stock valued at $578,282,000 after purchasing an additional 16,167 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Stock Up 2.4 %

Shares of Crane stock traded up $3.65 during trading hours on Friday, hitting $158.73. The company had a trading volume of 182,033 shares, compared to its average volume of 229,348. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a twelve month low of $82.57 and a twelve month high of $162.34. The company has a market cap of $9.07 billion, a P/E ratio of 42.55, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The company's 50-day moving average is $152.14 and its two-hundred day moving average is $146.70.

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

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were given 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%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CR shares. Stifel Nicolaus upped their target price on Crane from $157.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Crane from $175.00 to $182.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $156.17.

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.