UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Crane (NYSE:CR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Crane (NYSE:CR) by 8.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 115,264 shares of the conglomerate’s stock after selling 10,759 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Crane were worth $18,244,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Matrix Trust Co purchased a new position in Crane during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in shares of Crane in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new stake in shares of Crane during the third quarter worth approximately $30,000. ORG Partners LLC acquired a new stake in shares of Crane during the second quarter worth $31,000. Finally, UMB Bank n.a. grew its position in Crane by 81.8% in the 3rd 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. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Price Performance

Crane stock opened at $176.37 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $167.08 and its 200 day simple moving average is $155.10. Crane has a 52 week low of $102.80 and a 52 week high of $188.52. The firm has a market capitalization of $10.09 billion, a PE ratio of 38.85, a P/E/G ratio of 1.93 and a beta of 0.93.

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

Crane Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.46%. Crane’s dividend payout ratio (DPR) is 18.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus downgraded shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Crane presently has an average rating of “Moderate Buy” and a consensus 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.