Point72 Asia Singapore Pte. Ltd. Buys New Shares in Crane (NYSE:CR)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Crane (NYSE:CR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,275 shares of the conglomerate's stock, valued at approximately $518,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Crane by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,169 shares of the conglomerate's stock valued at $3,402,000 after acquiring an additional 1,546 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Crane by 13.8% in the first quarter. Janus Henderson Group PLC now owns 25,486 shares of the conglomerate's stock valued at $3,444,000 after buying an additional 3,082 shares during the period. Cetera Advisors LLC boosted its holdings in Crane by 22.2% during the first quarter. Cetera Advisors LLC now owns 3,654 shares of the conglomerate's stock worth $494,000 after buying an additional 663 shares during the last quarter. Simplicity Wealth LLC bought a new stake in shares of Crane in the 2nd quarter valued at about $201,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of Crane in the 2nd quarter valued at about $593,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Down 1.4 %

CR stock traded down $2.47 during trading on Tuesday, reaching $178.77. The stock had a trading volume of 262,106 shares, compared to its average volume of 234,257. 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 company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 39.00, a P/E/G ratio of 1.93 and a beta of 0.81. Crane has a one year low of $102.80 and a one year high of $188.52. The company's 50 day moving average is $165.53 and its two-hundred day moving average is $154.35.

Crane (NYSE:CR - Get Free Report) last issued its 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 firm had revenue of $597.20 million for 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 business's revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. Equities research analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, November 29th. Crane's dividend payout ratio (DPR) is presently 18.06%.

Analysts Set New Price Targets

CR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Crane from $175.00 to $182.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Stifel Nicolaus cut Crane from a "buy" rating to a "hold" rating and set a $176.00 target price for the company. in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $167.00.

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.