Alpha DNA Investment Management LLC Purchases New Holdings in Crane (NYSE:CR)

Alpha DNA Investment Management LLC purchased a new stake in Crane (NYSE:CR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,720 shares of the conglomerate’s stock, valued at approximately $394,000.

Several other institutional investors have also made changes to their positions in the stock. Covestor Ltd lifted its stake in Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 131 shares during the last quarter. ORG Partners LLC bought a new stake in Crane during the second quarter worth $31,000. Blue Trust Inc. lifted its stake in Crane by 29.9% during the second quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after purchasing an additional 112 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Crane during the second quarter worth $123,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Crane during the second quarter worth $159,000. 75.14% of the stock is currently owned by institutional investors.

Crane Stock Performance

NYSE CR opened at $157.49 on Thursday. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 42.22, a PEG ratio of 1.93 and a beta of 0.77. Crane has a twelve month low of $82.57 and a twelve month high of $162.34. The stock has a fifty day simple moving average of $151.42 and a 200 day simple moving average of $144.57. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $581.00 million during the quarter, compared to the consensus estimate of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. Sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports 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 report on Wednesday, May 29th. Stifel Nicolaus upped their price target on shares of Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to 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.