Oak Thistle LLC Buys 4,800 Shares of Crane (NYSE:CR)

Oak Thistle LLC lifted its holdings in Crane (NYSE:CR - Free Report) by 242.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,778 shares of the conglomerate's stock after purchasing an additional 4,800 shares during the period. Oak Thistle LLC's holdings in Crane were worth $1,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Private Advisor Group LLC grew its position in Crane by 12.4% in the second quarter. Private Advisor Group LLC now owns 4,519 shares of the conglomerate's stock worth $655,000 after buying an additional 498 shares during the last quarter. Choreo LLC acquired a new position in shares of Crane in the 2nd quarter worth $217,000. American Century Companies Inc. grew its holdings in shares of Crane by 673.2% in the 2nd quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate's stock worth $11,913,000 after acquiring an additional 71,544 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Crane by 12.1% during the second quarter. Federated Hermes Inc. now owns 5,800 shares of the conglomerate's stock worth $841,000 after purchasing an additional 626 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Crane by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 112,797 shares of the conglomerate's stock valued at $16,353,000 after purchasing an additional 4,355 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Crane Stock Up 0.5 %

Shares of NYSE:CR traded up $0.80 during midday trading on Thursday, hitting $155.55. 87,401 shares of the stock were exchanged, compared to its average volume of 193,383. The company has a market capitalization of $8.90 billion, a PE ratio of 20.60, a P/E/G ratio of 1.93 and a beta of 1.22. Crane has a 52-week low of $110.49 and a 52-week high of $188.52. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The business's fifty day simple moving average is $166.25 and its two-hundred day simple moving average is $157.48.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.06. The business had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm's revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. As a group, research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were issued a dividend of $0.205 per share. The ex-dividend date was Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.53%. Crane's dividend payout ratio is currently 18.06%.

Analysts Set New Price Targets

CR has been the topic of a number of analyst reports. UBS Group lifted their price target on Crane from $152.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, January 3rd. Stifel Nicolaus downgraded shares of Crane from a "buy" rating to a "hold" rating and set a $176.00 target price on the stock. in a research report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Crane from $175.00 to $182.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $168.00.

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.