HighTower Advisors LLC Has $1.17 Million Position in Crane (NYSE:CR)

HighTower Advisors LLC lessened its position in Crane (NYSE:CR) by 15.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,392 shares of the conglomerate’s stock after selling 1,385 shares during the quarter. HighTower Advisors LLC’s holdings in Crane were worth $1,173,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CR. Matrix Trust Co bought a new position in Crane in the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new position in shares of Crane during the 3rd quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in shares of Crane in the 3rd quarter valued at about $30,000. UMB Bank n.a. increased its position in shares of Crane by 81.8% in the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 99 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in Crane during the third quarter worth about $56,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Performance

NYSE CR opened at $164.34 on Tuesday. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.93 and a beta of 0.93. 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 has a twelve month low of $110.20 and a twelve month high of $188.52. The stock has a fifty day simple moving average of $168.32 and a 200 day simple moving average of $156.12.

Crane (NYSE:CR) last posted 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. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. During the same period last year, the company posted $1.03 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.50%. Crane’s dividend payout ratio (DPR) is currently 18.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus cut shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.