Ritholtz Wealth Management Sells 156 Shares of Crane (NYSE:CR)

Ritholtz Wealth Management lessened its holdings in shares of Crane (NYSE:CR) by 2.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,361 shares of the conglomerate’s stock after selling 156 shares during the period. Ritholtz Wealth Management’s holdings in Crane were worth $922,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Crane by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate’s stock worth $578,282,000 after purchasing an additional 16,167 shares during the period. Capital World Investors grew its position in shares of Crane by 4.0% during the 4th quarter. Capital World Investors now owns 2,095,540 shares of the conglomerate’s stock worth $247,567,000 after buying an additional 79,710 shares during the period. Capital International Investors increased its stake in shares of Crane by 103.3% in the 1st quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock valued at $182,216,000 after acquiring an additional 685,230 shares during the last quarter. Congress Asset Management Co. MA increased its stake in shares of Crane by 0.5% in the 4th quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock valued at $156,282,000 after acquiring an additional 6,605 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Crane by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 742,252 shares of the conglomerate’s stock valued at $87,690,000 after acquiring an additional 37,388 shares during the period. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of Crane from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. UBS Group upped their price objective on shares of Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Stifel Nicolaus raised their price objective on Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Crane from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.00.

Crane Trading Down 4.8 %

Shares of NYSE:CR opened at $150.74 on Wednesday. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 1.93 and a beta of 0.78. Crane has a 12 month low of $82.57 and a 12 month high of $162.34. The company’s fifty day simple moving average is $149.68 and its 200 day simple moving average is $141.66. 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 (NYSE:CR) last released its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The firm had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, research analysts forecast 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, September 11th. Shareholders of record on Friday, August 30th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, August 30th. Crane’s payout ratio is 21.98%.

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.