First City Capital Management Inc. Has $846,000 Stock Position in Crane (NYSE:CR)

First City Capital Management Inc. cut its holdings in Crane (NYSE:CR) by 16.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,836 shares of the conglomerate’s stock after selling 1,127 shares during the quarter. First City Capital Management Inc.’s holdings in Crane were worth $846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CR. Silvercrest Asset Management Group LLC lifted its stake in shares of Crane by 4.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 193,053 shares of the conglomerate’s stock valued at $26,087,000 after acquiring an additional 7,945 shares during the last quarter. Castleark Management LLC increased its holdings in Crane by 13.7% in the 1st quarter. Castleark Management LLC now owns 33,360 shares of the conglomerate’s stock worth $4,508,000 after purchasing an additional 4,020 shares in the last quarter. Morningstar Investment Services LLC boosted its stake in shares of Crane by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 126,031 shares of the conglomerate’s stock valued at $14,913,000 after purchasing an additional 62,613 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in shares of Crane in the fourth quarter valued at approximately $951,000. Finally, Russell Investments Group Ltd. boosted its position in Crane by 70.1% during the 1st quarter. Russell Investments Group Ltd. now owns 75,410 shares of the conglomerate’s stock worth $10,190,000 after buying an additional 31,069 shares during the period. Institutional investors own 75.14% of the company’s stock.

Crane Stock Performance

Shares of Crane stock opened at $152.43 on Friday. The company has a market cap of $8.71 billion, a P/E ratio of 40.87, a PEG ratio of 1.93 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $151.27 and a two-hundred day moving average price of $144.01. Crane has a 1-year low of $82.57 and a 1-year high of $162.34.

Crane (NYSE:CR) last issued its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $568.33 million. During the same period in the previous year, the company posted $1.10 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, August 30th. Crane’s dividend payout ratio (DPR) is currently 21.98%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CR. Stifel Nicolaus raised their price target on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Bank of America raised 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. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Crane from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Crane currently has an average 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.