Oppenheimer Asset Management Inc. lifted its stake in shares of Crane Co. (NYSE:CR) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,045 shares of the conglomerate’s stock after purchasing an additional 625 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Crane were worth $1,939,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in Crane in the second quarter valued at about $25,000. Cullen Frost Bankers Inc. acquired a new stake in Crane in the second quarter valued at about $31,000. Redhawk Wealth Advisors Inc. acquired a new stake in Crane in the second quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Crane in the second quarter valued at about $48,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in Crane in the second quarter valued at about $50,000. 69.25% of the stock is currently owned by institutional investors.
Crane stock opened at $80.70 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.56 and a current ratio of 2.24. Crane Co. has a 52-week low of $67.18 and a 52-week high of $94.67. The firm has a 50 day moving average price of $79.62 and a two-hundred day moving average price of $81.09. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 3.95 and a beta of 1.35.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.15). Crane had a return on equity of 22.76% and a net margin of 10.20%. The firm had revenue of $772.30 million for the quarter, compared to the consensus estimate of $802.46 million. During the same quarter in the previous year, the business posted $1.62 EPS. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Crane Co. will post 6.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.56 annualized dividend and a yield of 1.93%. Crane’s payout ratio is 26.04%.
Several analysts recently weighed in on CR shares. DA Davidson raised their price objective on Crane from $105.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Canaccord Genuity lowered Crane from a “buy” rating to a “hold” rating and cut their price target for the company from $105.00 to $85.00 in a research note on Wednesday, October 30th. Buckingham Research cut Crane from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $102.00 to $79.00 in a report on Wednesday, October 30th. ValuEngine raised Crane from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Raymond James reiterated a “market perform” rating on shares of Crane in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Crane presently has a consensus rating of “Hold” and a consensus price target of $91.64.
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
Read More: Why is total return important?
Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.