Crane (NYSE:CR) Shares Sold by Algert Global LLC

Algert Global LLC reduced its stake in Crane (NYSE:CR) by 43.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,679 shares of the conglomerate’s stock after selling 7,570 shares during the period. Algert Global LLC’s holdings in Crane were worth $1,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Matrix Trust Co acquired a new position in Crane in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in shares of Crane during the third quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new stake in shares of Crane during the third quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in shares of Crane during the second quarter valued at approximately $31,000. Finally, UMB Bank n.a. raised its holdings in shares of Crane by 81.8% during the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after buying an additional 99 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CR shares. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Crane Price Performance

Shares of NYSE:CR opened at $181.60 on Friday. Crane has a 12 month low of $102.80 and a 12 month high of $188.52. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 40.03, a PEG ratio of 1.93 and a beta of 0.81. The stock’s 50 day moving average price is $163.82 and its 200 day moving average price is $153.54. 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 announced its earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $594.45 million. During the same quarter in the previous year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 annualized dividend and a dividend yield of 0.45%. Crane’s dividend payout ratio is currently 18.06%.

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.