Oppenheimer Asset Management Inc. Sells 7,540 Shares of Crane (NYSE:CR)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Crane (NYSE:CR - Free Report) by 32.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,784 shares of the conglomerate's stock after selling 7,540 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Crane were worth $2,498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CR. Matrix Trust Co bought a new position in shares of Crane during the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of Crane in the third quarter worth approximately $28,000. ORG Wealth Partners LLC purchased a new stake in shares of Crane in the third quarter worth $30,000. Covestor Ltd raised its position in shares of Crane by 150.6% during the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 131 shares during the period. Finally, ORG Partners LLC bought a new stake in shares of Crane during the 2nd quarter valued at $31,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CR has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on Crane from $168.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on Crane from $175.00 to $182.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $157.33.

Crane Price Performance

Shares of NYSE:CR traded down $0.41 during mid-day trading on Friday, reaching $173.50. The stock had a trading volume of 121,351 shares, compared to its average volume of 232,733. The company has a market cap of $9.93 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The business's 50 day moving average price is $158.85 and its 200 day moving average price is $151.43. 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 1 year low of $102.80 and a 1 year high of $180.87.

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

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, November 29th. Crane's dividend payout ratio is 18.06%.

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.