Crane (NYSE:CR) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC cut its holdings in Crane (NYSE:CR) by 28.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,418 shares of the conglomerate’s stock after selling 949 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Crane were worth $383,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Matrix Trust Co acquired a new stake in Crane in the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in shares of Crane during the third quarter valued at $28,000. Covestor Ltd grew its position in shares of Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 131 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Crane in the 3rd quarter worth about $30,000. Finally, ORG Partners LLC bought a new stake in Crane in the 2nd quarter valued at about $31,000. Institutional investors own 75.14% of the company’s stock.

Crane Trading Down 1.0 %

Crane stock opened at $149.06 on Friday. Crane has a 12-month low of $90.91 and a 12-month high of $163.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The stock has a market capitalization of $8.52 billion, a PE ratio of 39.96, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The firm has a 50 day simple moving average of $154.09 and a 200-day simple moving average of $148.09.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. During the same period last year, the company posted $1.10 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus increased their price objective on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Crane presently has an average rating of “Moderate Buy” and an average target price of $157.33.

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.