Lighthouse Investment Partners LLC Boosts Holdings in Crane (NYSE:CR)

Lighthouse Investment Partners LLC lifted its stake in shares of Crane (NYSE:CR) by 1.2% in the second quarter, Holdings Channel reports. The firm owned 14,000 shares of the conglomerate’s stock after buying an additional 162 shares during the period. Lighthouse Investment Partners LLC’s holdings in Crane were worth $2,030,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CR. Millennium Management LLC boosted its stake in Crane by 42.3% during the 2nd quarter. Millennium Management LLC now owns 37,104 shares of the conglomerate’s stock worth $5,379,000 after purchasing an additional 11,034 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 20,518 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in Crane during the second quarter worth approximately $394,000. Sei Investments Co. boosted its stake in Crane by 3.4% during the second quarter. Sei Investments Co. now owns 55,877 shares of the conglomerate’s stock worth $8,100,000 after buying an additional 1,850 shares during the last quarter. Finally, AE Wealth Management LLC grew its holdings in Crane by 69.3% in the 2nd quarter. AE Wealth Management LLC now owns 3,530 shares of the conglomerate’s stock valued at $512,000 after buying an additional 1,445 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CR. Deutsche Bank Aktiengesellschaft lifted their price target on Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.00.

Crane Trading Down 0.8 %

NYSE CR opened at $157.40 on Friday. Crane has a 12 month low of $82.57 and a 12 month high of $162.34. The stock has a market capitalization of $9.00 billion, a P/E ratio of 42.20, a PEG ratio of 1.93 and a beta of 0.77. The firm’s 50-day moving average is $151.71 and its two-hundred day moving average is $144.86. 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 (NYSE:CR) last posted its quarterly earnings data 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. The firm had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $1.10 EPS. On average, sell-side analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were issued a $0.205 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. Crane’s dividend payout ratio is presently 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.