Crane (NYSE:CR) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in shares of Crane (NYSE:CR - Free Report) by 25.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,898 shares of the conglomerate's stock after selling 5,956 shares during the quarter. US Bancorp DE's holdings in Crane were worth $2,833,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Matrix Trust Co purchased a new stake in shares of Crane during the third quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Crane in the 3rd quarter valued at $28,000. ORG Wealth Partners LLC purchased a new stake in shares of Crane during the 3rd quarter worth $30,000. Covestor Ltd grew its stake in shares of Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate's stock worth $30,000 after purchasing an additional 131 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Crane in the second quarter valued at $31,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Analysts Set New Price Targets

CR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Crane from $175.00 to $182.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Stifel Nicolaus increased their price target on shares of Crane from $168.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Crane presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.33.

Crane Stock Performance

NYSE:CR traded up $5.21 during mid-day trading on Wednesday, reaching $174.20. 354,981 shares of the stock were exchanged, compared to its average volume of 234,024. 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 1 year low of $98.95 and a 1 year high of $177.24. The company has a 50 day simple moving average of $155.19 and a 200-day simple moving average of $149.54. The stock has a market capitalization of $9.97 billion, a P/E ratio of 38.24, a P/E/G ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter last year, the company posted $1.03 earnings per share. Analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a $0.205 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.47%. Crane's payout ratio is currently 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.