Canandaigua National Bank & Trust Co. Cuts Stock Holdings in Crane (NYSE:CR)

Canandaigua National Bank & Trust Co. decreased its stake in shares of Crane (NYSE:CR) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,485 shares of the conglomerate’s stock after selling 142 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Crane were worth $225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Crane by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock worth $111,882,000 after acquiring an additional 70,297 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Crane by 16.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock valued at $103,748,000 after buying an additional 91,029 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Crane by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 585,718 shares of the conglomerate’s stock valued at $92,707,000 after buying an additional 3,188 shares in the last quarter. Driehaus Capital Management LLC raised its position in Crane by 12.5% in the second quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after acquiring an additional 42,743 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Crane by 11.9% in the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock valued at $27,902,000 after acquiring an additional 20,518 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Trading Down 0.8 %

NYSE CR opened at $152.28 on Wednesday. The stock has a market cap of $8.72 billion, a P/E ratio of 20.17, a PEG ratio of 1.93 and a beta of 1.22. The company’s fifty day simple moving average is $167.56 and its 200-day simple moving average is $157.24. 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 52 week low of $110.49 and a 52 week high of $188.52.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $594.45 million. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, November 29th. Crane’s payout ratio is 18.06%.

Analyst Ratings Changes

CR has been the topic of a number of recent analyst reports. Stifel Nicolaus cut shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, UBS Group boosted their price target on Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and a consensus target price of $168.00.

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.