Crane (NYSE:CR) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lowered its stake in Crane (NYSE:CR) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,410 shares of the conglomerate’s stock after selling 100 shares during the quarter. Carret Asset Management LLC’s holdings in Crane were worth $596,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp lifted its holdings in Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 99 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in Crane by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 7,926 shares of the conglomerate’s stock valued at $936,000 after acquiring an additional 99 shares during the last quarter. Janney Capital Management LLC raised its holdings in Crane by 3.2% during the 4th quarter. Janney Capital Management LLC now owns 3,560 shares of the conglomerate’s stock worth $421,000 after buying an additional 110 shares during the period. Financial Enhancement Group LLC raised its holdings in Crane by 1.1% during the 1st quarter. Financial Enhancement Group LLC now owns 11,920 shares of the conglomerate’s stock worth $1,607,000 after buying an additional 135 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in Crane by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 21,276 shares of the conglomerate’s stock worth $2,514,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Up 1.1 %

Shares of Crane stock opened at $144.65 on Thursday. The stock has a market capitalization of $8.27 billion, a P/E ratio of 38.78, a PEG ratio of 1.93 and a beta of 0.87. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $144.42 and a two-hundred day moving average price of $131.51. Crane has a 12-month low of $82.57 and a 12-month high of $150.01.

Crane (NYSE:CR) last announced its earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $565.30 million during the quarter, compared to analysts’ expectations of $546.39 million. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were given a $0.205 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. Crane’s dividend payout ratio is 21.98%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CR shares. DA Davidson upped their target price on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $157.00 target price on shares of Crane in a report on Wednesday, May 15th. StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a report on Saturday, April 27th. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, Bank of America increased their price objective on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Crane currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.67.

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.