Crane (NYSE:CR) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Crane (NYSE:CR) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 585,718 shares of the conglomerate’s stock after acquiring an additional 3,188 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.02% of Crane worth $92,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Select Equity Group L.P. acquired a new position in shares of Crane in the 2nd quarter valued at $21,159,000. Hantz Financial Services Inc. acquired a new position in Crane in the second quarter valued at about $16,205,000. Massachusetts Financial Services Co. MA boosted its stake in Crane by 16.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock worth $103,748,000 after buying an additional 91,029 shares during the period. American Century Companies Inc. increased its position in shares of Crane by 673.2% during the second quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock valued at $11,913,000 after acquiring an additional 71,544 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Crane by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock valued at $111,882,000 after acquiring an additional 70,297 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Crane Stock Performance

Shares of CR stock opened at $185.12 on Wednesday. The firm has a 50 day moving average of $162.63 and a two-hundred day moving average of $153.05. The stock has a market capitalization of $10.59 billion, a PE ratio of 40.71, a P/E/G ratio of 1.93 and a beta of 0.81. 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 $102.80 and a 52 week high of $188.52.

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

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.44%. Crane’s payout ratio is 18.06%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus lowered Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.

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.