Cetera Investment Advisers Lowers Holdings in Crane (NYSE:CR)

Cetera Investment Advisers decreased its stake in shares of Crane (NYSE:CR) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,780 shares of the conglomerate’s stock after selling 319 shares during the quarter. Cetera Investment Advisers’ holdings in Crane were worth $1,273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CR. Algert Global LLC grew its holdings in shares of Crane by 20.4% in the second quarter. Algert Global LLC now owns 17,249 shares of the conglomerate’s stock worth $2,501,000 after acquiring an additional 2,921 shares during the period. Driehaus Capital Management LLC increased its stake in Crane by 12.5% during the second quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after acquiring an additional 42,743 shares during the last quarter. Select Equity Group L.P. bought a new stake in Crane during the second quarter worth approximately $21,159,000. Lighthouse Investment Partners LLC grew its stake in shares of Crane by 1.2% during the second quarter. Lighthouse Investment Partners LLC now owns 14,000 shares of the conglomerate’s stock valued at $2,030,000 after buying an additional 162 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Crane by 42.3% during the second quarter. Millennium Management LLC now owns 37,104 shares of the conglomerate’s stock valued at $5,379,000 after buying an additional 11,034 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Crane Stock Performance

Shares of CR stock opened at $161.41 on Thursday. The stock has a market cap of $9.23 billion, a PE ratio of 43.27, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The business has a 50-day simple moving average of $153.19 and a 200-day simple moving average of $147.21. 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 has a 52-week low of $82.57 and a 52-week high of $163.39.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. During the same quarter in the previous year, the business earned $1.10 EPS. Crane’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities analysts expect that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were paid a dividend of $0.205 per share. The ex-dividend date was Friday, August 30th. This represents a $0.82 annualized dividend and a yield of 0.51%. Crane’s dividend payout ratio (DPR) is currently 21.98%.

Analyst Upgrades and Downgrades

CR has been the topic of several research reports. Stifel Nicolaus raised their price objective on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.33.

Crane Company 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.