Crane (NYSE:CR) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its holdings in Crane (NYSE:CR) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,407 shares of the conglomerate’s stock after selling 800 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Crane were worth $1,821,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CR. Covenant Partners LLC raised its position in shares of Crane by 20.4% during the 4th quarter. Covenant Partners LLC now owns 3,456 shares of the conglomerate’s stock valued at $408,000 after acquiring an additional 585 shares in the last quarter. Barometer Capital Management Inc. acquired a new stake in shares of Crane during the 4th quarter valued at approximately $1,855,000. Morningstar Investment Services LLC raised its position in shares of Crane by 98.7% during the 4th quarter. Morningstar Investment Services LLC now owns 126,031 shares of the conglomerate’s stock valued at $14,913,000 after acquiring an additional 62,613 shares in the last quarter. Capital World Investors raised its position 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 valued at $247,567,000 after acquiring an additional 79,710 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Crane by 44.7% during the 4th quarter. Capital International Investors now owns 663,221 shares of the conglomerate’s stock valued at $78,353,000 after acquiring an additional 204,924 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and set a $157.00 price target on shares of Crane in a research report on Wednesday, May 15th. Bank of America increased their target price on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. UBS Group increased their target price on Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Vertical Research raised Crane from a “hold” rating to 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 research report on Saturday, April 27th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Crane has an average rating of “Moderate Buy” and a consensus target price of $143.67.

Crane Trading Up 1.5 %

NYSE:CR opened at $144.75 on Friday. Crane has a 1 year low of $79.26 and a 1 year high of $150.01. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 1.93 and a beta of 0.87. The business has a fifty day moving average of $142.60 and a 200-day moving average of $129.27. 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 results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company 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 posted $1.25 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

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.