Crane (NYSE:CR) Sees Large Increase in Short Interest

Crane (NYSE:CR) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 716,800 shares, an increase of 15.6% from the October 31st total of 620,300 shares. Based on an average daily volume of 237,100 shares, the days-to-cover ratio is presently 3.0 days. Approximately 1.3% of the company’s stock are short sold.

Crane Stock Performance

NYSE:CR traded down $2.47 during trading hours on Tuesday, reaching $178.77. The stock had a trading volume of 262,106 shares, compared to its average volume of 234,257. Crane has a 12-month low of $102.80 and a 12-month high of $188.52. 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 stock has a 50 day simple moving average of $165.53 and a 200 day simple moving average of $154.35. The stock has a market cap of $10.23 billion, a P/E ratio of 39.00, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.06. The company had revenue of $597.20 million during 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 firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. On average, research analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.46%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Institutional Investors Weigh In On Crane

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in Crane by 11.9% during the 2nd quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock worth $27,902,000 after acquiring an additional 20,518 shares during the period. WINTON GROUP Ltd boosted its stake in Crane by 70.7% during the second quarter. WINTON GROUP Ltd now owns 123,961 shares of the conglomerate’s stock valued at $17,972,000 after buying an additional 51,342 shares during the period. Chesapeake Capital Corp IL bought a new position in Crane in the 2nd quarter worth about $509,000. American Century Companies Inc. raised its holdings in shares of Crane by 673.2% in the 2nd quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock valued at $11,913,000 after acquiring an additional 71,544 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Crane by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 112,797 shares of the conglomerate’s stock worth $16,353,000 after purchasing an additional 4,355 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus lowered Crane from a “buy” rating to a “hold” rating and set a $176.00 target price for the company. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Crane Company 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.