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

Crane (NYSE:CR) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 627,100 shares, a growth of 31.8% from the January 31st total of 475,800 shares. Based on an average trading volume of 262,900 shares, the short-interest ratio is presently 2.4 days. Currently, 1.1% of the company’s stock are sold short.

Crane Stock Performance

Shares of Crane stock traded down $4.76 on Tuesday, hitting $152.03. 270,739 shares of the company’s stock were exchanged, compared to its average volume of 227,873. The company has a 50-day simple moving average of $162.02 and a 200-day simple moving average of $161.65. The stock has a market capitalization of $8.70 billion, a PE ratio of 20.14, a PEG ratio of 1.93 and a beta of 1.25. Crane has a 1 year low of $123.82 and a 1 year 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.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same quarter in the previous year, the firm posted $0.90 EPS. As a group, equities analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, February 28th. This is a boost from Crane’s previous quarterly dividend of $0.21. Crane’s dividend payout ratio (DPR) is currently 18.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. UBS Group lifted their target price on shares of Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. DA Davidson lifted their target price on shares of Crane from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Stifel Nicolaus cut their target price on shares of Crane from $176.00 to $170.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Finally, StockNews.com downgraded shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Crane has an average rating of “Moderate Buy” and an average price target of $174.80.

Insider Activity at Crane

In related news, VP Alejandro Alcala sold 2,293 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction of $392,011.28. Following the completion of the sale, the vice president now owns 32,963 shares of the company’s stock, valued at $5,635,354.48. This trade represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in shares of Crane by 0.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,625 shares of the conglomerate’s stock valued at $2,371,000 after buying an additional 65 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Crane by 5.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,455 shares of the conglomerate’s stock valued at $221,000 after buying an additional 71 shares in the last quarter. Stonegate Investment Group LLC lifted its stake in shares of Crane by 5.3% during the 4th quarter. Stonegate Investment Group LLC now owns 1,439 shares of the conglomerate’s stock valued at $218,000 after buying an additional 72 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Crane by 0.9% during the 4th quarter. Cetera Investment Advisers now owns 8,196 shares of the conglomerate’s stock valued at $1,244,000 after buying an additional 74 shares in the last quarter. Finally, NorthRock Partners LLC lifted its stake in shares of Crane by 4.2% during the 4th quarter. NorthRock Partners LLC now owns 1,954 shares of the conglomerate’s stock valued at $297,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

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.