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Retirement Systems of Alabama Purchases 4,096 Shares of Crane (NYSE:CR)

Crane logo with Industrials background

Retirement Systems of Alabama raised its position in shares of Crane (NYSE:CR - Free Report) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 132,200 shares of the conglomerate's stock after purchasing an additional 4,096 shares during the quarter. Retirement Systems of Alabama owned about 0.23% of Crane worth $20,925,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Crane by 2.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate's stock valued at $529,000 after buying an additional 94 shares during the period. ORG Partners LLC acquired a new stake in shares of Crane during the 2nd quarter valued at $31,000. Blue Trust Inc. raised its position in Crane by 29.9% during the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate's stock worth $66,000 after purchasing an additional 112 shares during the last quarter. Raymond James & Associates grew its holdings in Crane by 1.9% during the 2nd quarter. Raymond James & Associates now owns 69,790 shares of the conglomerate's stock worth $10,118,000 after acquiring an additional 1,309 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Crane in the 2nd quarter valued at about $123,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

CR stock traded down $1.16 on Friday, reaching $164.97. 179,468 shares of the company's stock were exchanged, compared to its average volume of 235,822. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $106.89 and a twelve month high of $188.52. The stock has a fifty day moving average of $168.19 and a 200-day moving average of $155.91. The firm has a market cap of $9.44 billion, a PE ratio of 36.34, a P/E/G ratio of 1.93 and a beta of 0.93.

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

Crane Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, November 29th. Crane's payout ratio is 18.06%.

Analyst Ratings Changes

Several equities research analysts have commented on CR shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crane from $175.00 to $182.00 and gave the company 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 price objective on the stock. in a research report 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $167.00.

Get Our Latest Report on Crane

Crane Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Crane (NYSE:CR)

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