Norden Group LLC Has $12.09 Million Stake in Crane (NYSE:CR)

Norden Group LLC increased its position in Crane (NYSE:CR) by 1,363.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,432 shares of the conglomerate’s stock after buying an additional 83,322 shares during the period. Norden Group LLC’s holdings in Crane were worth $12,086,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Crane by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate’s stock worth $578,282,000 after purchasing an additional 16,167 shares in the last quarter. Capital World Investors boosted its stake in shares of Crane by 4.0% during the 4th quarter. Capital World Investors now owns 2,095,540 shares of the conglomerate’s stock worth $247,567,000 after acquiring an additional 79,710 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of Crane by 0.5% during the 4th quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock valued at $156,282,000 after acquiring an additional 6,605 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Crane by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 742,252 shares of the conglomerate’s stock valued at $87,690,000 after acquiring an additional 37,388 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Crane by 44.7% in the 4th quarter. Capital International Investors now owns 663,221 shares of the conglomerate’s stock worth $78,353,000 after purchasing an additional 204,924 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Crane Stock Up 1.1 %

Shares of CR opened at $144.65 on Thursday. Crane has a 52 week low of $82.57 and a 52 week high of $150.01. The firm has a market capitalization of $8.27 billion, a P/E ratio of 38.78, a P/E/G ratio of 1.93 and a beta of 0.87. The company has a 50-day simple moving average of $144.42 and a 200-day simple moving average of $131.51. 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 released its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $565.30 million for the quarter, compared to analysts’ expectations of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. On average, equities research analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CR shares. UBS Group lifted their price target on shares of Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Bank of America boosted their target price on shares of Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $157.00 price target on shares of Crane in a research report on Wednesday, May 15th. DA Davidson boosted their price objective on Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, StockNews.com raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, April 27th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.67.

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.