Crane (NYSE:CR) Position Decreased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its holdings in Crane (NYSE:CR) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,893 shares of the conglomerate’s stock after selling 458 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Crane were worth $854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CR. Capital International Investors increased its holdings in shares of Crane by 103.3% in the first quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock valued at $182,216,000 after buying an additional 685,230 shares in the last quarter. Norges Bank acquired a new position in shares of Crane in the 4th quarter worth $59,659,000. Axiom Investors LLC DE raised its position in shares of Crane by 313.3% during the fourth quarter. Axiom Investors LLC DE now owns 145,432 shares of the conglomerate’s stock worth $17,181,000 after purchasing an additional 110,247 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Crane by 13.0% during the first quarter. Lord Abbett & CO. LLC now owns 727,846 shares of the conglomerate’s stock valued at $98,354,000 after purchasing an additional 83,938 shares during the last quarter. Finally, Norden Group LLC boosted its position in shares of Crane by 1,363.7% in the 1st quarter. Norden Group LLC now owns 89,432 shares of the conglomerate’s stock valued at $12,086,000 after purchasing an additional 83,322 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Price Performance

CR opened at $149.34 on Monday. The stock has a fifty day moving average price of $147.32 and a 200 day moving average price of $139.24. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 1 year low of $82.57 and a 1 year high of $162.34. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 40.04, a PEG ratio of 1.93 and a beta of 0.78.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. During the same period in the previous year, the company earned $1.10 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. Analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.55%. Crane’s dividend payout ratio (DPR) is 21.98%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CR. Stifel Nicolaus boosted their price objective on Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their target price on Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America upped their price target on Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. DA Davidson raised 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, UBS Group upped their target price on Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.00.

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.