AE Wealth Management LLC Has $512,000 Position in Crane (NYSE:CR)

AE Wealth Management LLC increased its stake in shares of Crane (NYSE:CR) by 69.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,530 shares of the conglomerate’s stock after purchasing an additional 1,445 shares during the quarter. AE Wealth Management LLC’s holdings in Crane were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CR. Wealth Enhancement Advisory Services LLC grew its stake in shares of Crane by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock worth $529,000 after buying an additional 94 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Crane by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock valued at $1,176,000 after acquiring an additional 104 shares in the last quarter. Blue Trust Inc. grew its position in Crane by 29.9% during the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after acquiring an additional 112 shares during the last quarter. Covestor Ltd increased its holdings in Crane by 150.6% in the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 131 shares in the last quarter. Finally, Financial Enhancement Group LLC raised its position in Crane by 1.1% in the first quarter. Financial Enhancement Group LLC now owns 11,920 shares of the conglomerate’s stock valued at $1,607,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

Crane Stock Performance

NYSE:CR opened at $158.86 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $162.34. The company has a 50 day simple moving average of $151.58 and a two-hundred day simple moving average of $144.67. The company has a market capitalization of $9.08 billion, a PE ratio of 42.59, a P/E/G ratio of 1.93 and a beta of 0.77.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.06. The company had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 earnings per share. Research analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were given a dividend of $0.205 per share. The ex-dividend date was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. 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.