Van ECK Associates Corp Has $4.60 Million Holdings in Crane (NYSE:CR)

Van ECK Associates Corp grew its holdings in Crane (NYSE:CR - Free Report) by 40.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 30,296 shares of the conglomerate's stock after acquiring an additional 8,658 shares during the quarter. Van ECK Associates Corp owned about 0.05% of Crane worth $4,599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CR. Matrix Trust Co acquired a new stake in Crane during the third quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in Crane in the third quarter valued at $28,000. Covestor Ltd boosted its stake in Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate's stock valued at $30,000 after acquiring an additional 131 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Crane during the third quarter worth approximately $30,000. Finally, ORG Partners LLC purchased a new position in Crane in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CR. Deutsche Bank Aktiengesellschaft upped their price target on Crane from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Stifel Nicolaus boosted their price target on shares of Crane from $168.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.33.

Crane Stock Performance

Crane stock traded up $2.13 during trading hours on Friday, hitting $176.00. The stock had a trading volume of 193,686 shares, compared to its average volume of 234,142. Crane has a fifty-two week low of $99.98 and a fifty-two week high of $177.24. The company has a market cap of $10.07 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The company has a 50-day moving average of $156.29 and a two-hundred day moving average of $150.19. 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 (NYSE:CR - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share 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 the consensus estimate of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. On average, equities research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 annualized dividend and a yield of 0.47%. Crane's dividend 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.