Crane (NYSE:CR) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Crane (NYSE:CR - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,500 shares of the conglomerate's stock after buying an additional 5,250 shares during the period. Principal Financial Group Inc. owned about 0.78% of Crane worth $67,758,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Crane in the 3rd quarter valued at $37,000. Millburn Ridgefield Corp acquired a new stake in shares of Crane during the third quarter worth about $45,000. Truvestments Capital LLC acquired a new stake in shares of Crane during the third quarter worth about $56,000. UMB Bank n.a. lifted its holdings in shares of Crane by 69.1% in the 4th quarter. UMB Bank n.a. now owns 372 shares of the conglomerate's stock valued at $56,000 after purchasing an additional 152 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Crane in the 3rd quarter valued at about $86,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Stock Performance

Crane stock traded down $6.27 during trading hours on Friday, reaching $165.23. 494,520 shares of the stock were exchanged, compared to its average volume of 268,104. Crane has a 52-week low of $121.04 and a 52-week high of $188.52. The stock has a market cap of $9.46 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.93 and a beta of 1.25. 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 firm's 50 day moving average is $161.40 and its 200 day moving average is $160.84.

Crane (NYSE:CR - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same quarter in the previous year, the company earned $0.90 earnings per share. Analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 28th will be paid a $0.23 dividend. This is a boost from Crane's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. Crane's dividend payout ratio (DPR) is 18.18%.

Insider Buying and Selling

In related news, VP Alejandro Alcala sold 2,293 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction of $392,011.28. Following the transaction, the vice president now owns 32,963 shares of the company's stock, valued at approximately $5,635,354.48. This represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CR. StockNews.com downgraded Crane from a "buy" rating to a "hold" rating in a report on Saturday. Stifel Nicolaus decreased their price target on shares of Crane from $176.00 to $170.00 and set a "hold" rating for the company in a research note on Friday, January 24th. DA Davidson lifted their price objective on shares of Crane from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, UBS Group increased their target price on shares of Crane from $152.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Crane has a consensus rating of "Moderate Buy" and a consensus price target of $174.80.

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.