Van ECK Associates Corp Acquires 8,658 Shares of Crane (NYSE:CR)

Van ECK Associates Corp grew its holdings in shares of Crane (NYSE:CR) by 40.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,296 shares of the conglomerate’s stock after buying an additional 8,658 shares during the period. Van ECK Associates Corp’s holdings in Crane were worth $4,599,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CR. State of Alaska Department of Revenue boosted its stake in Crane by 3.6% during the third quarter. State of Alaska Department of Revenue now owns 11,071 shares of the conglomerate’s stock worth $1,751,000 after acquiring an additional 380 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Crane by 390.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,890 shares of the conglomerate’s stock valued at $2,832,000 after purchasing an additional 14,241 shares during the period. Lecap Asset Management Ltd. bought a new position in shares of Crane during the 3rd quarter worth about $240,000. Venture Visionary Partners LLC grew its stake in shares of Crane by 1.3% in the 3rd quarter. Venture Visionary Partners LLC now owns 36,446 shares of the conglomerate’s stock valued at $5,769,000 after buying an additional 461 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Crane by 5.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 68,012 shares of the conglomerate’s stock valued at $10,765,000 after buying an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Performance

Shares of CR opened at $175.98 on Friday. Crane has a 52 week low of $99.98 and a 52 week high of $177.24. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock has a 50 day moving average price of $156.29 and a two-hundred day moving average price of $150.19. The firm has a market capitalization of $10.07 billion, a P/E ratio of 38.76, a P/E/G ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. The business had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. Equities analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CR shares. Stifel Nicolaus increased their price target on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.