Cresset Asset Management LLC Decreases Stake in Crane (NYSE:CR)

Cresset Asset Management LLC reduced its holdings in Crane (NYSE:CR) by 40.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,427 shares of the conglomerate’s stock after selling 2,976 shares during the period. Cresset Asset Management LLC’s holdings in Crane were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CR. Huntington National Bank raised its stake in Crane by 487.8% during the fourth quarter. Huntington National Bank now owns 241 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. raised its stake in Crane by 69.1% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the conglomerate’s stock worth $56,000 after purchasing an additional 152 shares during the period. Jones Financial Companies Lllp raised its stake in Crane by 17.8% during the fourth quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate’s stock worth $89,000 after purchasing an additional 88 shares during the period. AlphaQuest LLC purchased a new position in Crane during the fourth quarter worth about $101,000. Finally, Quarry LP raised its stake in Crane by 250.6% during the fourth quarter. Quarry LP now owns 817 shares of the conglomerate’s stock worth $124,000 after purchasing an additional 584 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Trading Up 0.3%

Shares of CR stock opened at $175.95 on Wednesday. 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 market capitalization of $10.12 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a 50 day moving average price of $152.25 and a 200 day moving average price of $160.91. Crane has a fifty-two week low of $127.04 and a fifty-two week high of $188.52.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 28th. The conglomerate reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. The firm had revenue of $557.60 million during the quarter, compared to analysts’ expectations of $546.93 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. Equities research analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, May 30th. Crane’s dividend payout ratio (DPR) is currently 15.94%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group raised shares of Crane from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $157.00 to $190.00 in a research note on Tuesday, April 29th. StockNews.com downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price target on shares of Crane from $144.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $186.00 price target on shares of Crane and gave the company a “buy” rating in a research report on Monday, April 14th. Finally, DA Davidson reiterated a “buy” rating and set a $200.00 price target on shares of Crane in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.20.

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.