Envestnet Asset Management Inc. Has $16.35 Million Position in Crane (NYSE:CR)

Envestnet Asset Management Inc. grew its holdings in shares of Crane (NYSE:CR) by 4.0% in the second quarter, HoldingsChannel.com reports. The fund owned 112,797 shares of the conglomerate’s stock after acquiring an additional 4,355 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Crane were worth $16,353,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. grew its holdings in Crane by 9.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 23,324 shares of the conglomerate’s stock worth $3,382,000 after acquiring an additional 2,086 shares during the period. Federated Hermes Inc. grew its holdings in Crane by 12.1% during the 2nd quarter. Federated Hermes Inc. now owns 5,800 shares of the conglomerate’s stock worth $841,000 after acquiring an additional 626 shares during the period. Nicholas Investment Partners LP grew its holdings in Crane by 1.0% during the 2nd quarter. Nicholas Investment Partners LP now owns 48,031 shares of the conglomerate’s stock worth $6,964,000 after acquiring an additional 468 shares during the period. Vest Financial LLC grew its holdings in Crane by 19.7% during the 2nd quarter. Vest Financial LLC now owns 7,674 shares of the conglomerate’s stock worth $1,113,000 after acquiring an additional 1,263 shares during the period. Finally, Johnson Investment Counsel Inc. grew its holdings in Crane by 10.7% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,079 shares of the conglomerate’s stock worth $736,000 after acquiring an additional 492 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Price Performance

Shares of NYSE CR opened at $157.99 on Wednesday. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $162.34. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 42.36, a PEG ratio of 1.93 and a beta of 0.77. 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 firm’s 50-day simple moving average is $151.32 and its 200 day simple moving average is $144.48.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $568.33 million. During the same quarter last year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a dividend of $0.205 per share. The ex-dividend date was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. Crane’s dividend payout ratio is currently 21.98%.

Analysts Set New Price Targets

CR has been the subject of several research reports. Bank of America raised their target price on Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft raised their target price on Crane from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Crane presently has an average rating of “Moderate Buy” and a consensus price target of $155.00.

About Crane

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.