Norden Group LLC Lowers Stock Holdings in Crane (NYSE:CR)

Norden Group LLC lessened its holdings in shares of Crane (NYSE:CR) by 19.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,145 shares of the conglomerate’s stock after selling 1,213 shares during the quarter. Norden Group LLC’s holdings in Crane were worth $746,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Covestor Ltd increased its stake in Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 131 shares during the last quarter. ORG Partners LLC purchased a new stake in Crane in the 2nd quarter valued at about $31,000. Blue Trust Inc. increased its stake in shares of Crane by 29.9% during the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock valued at $66,000 after acquiring an additional 112 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Crane during the 2nd quarter worth about $123,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Crane in the second quarter worth approximately $201,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America upped their price target 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 increased their target price on Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group boosted their target price on shares of Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.00.

Crane Stock Performance

Shares of CR opened at $142.24 on Friday. The company has a 50-day moving average of $149.86 and a two-hundred day moving average of $142.07. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 1.93 and a beta of 0.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a one year low of $82.57 and a one year high of $162.34.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. During the same quarter last year, the business posted $1.10 EPS. The company’s revenue was up 14.0% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.205 per share. The ex-dividend date is Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.58%. Crane’s dividend payout ratio is 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.