Crane (NYSE:CR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in shares of Crane (NYSE:CR) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,864 shares of the conglomerate’s stock after selling 2,853 shares during the period. The Manufacturers Life Insurance Company’s holdings in Crane were worth $36,370,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Covestor Ltd grew its position in shares of Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 131 shares in the last quarter. ORG Partners LLC purchased a new stake in Crane in the 2nd quarter valued at $31,000. Blue Trust Inc. increased its stake in shares of Crane by 29.9% in 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. Hobbs Group Advisors LLC purchased a new position in shares of Crane during the 2nd quarter worth $123,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Crane during the 2nd quarter valued at about $159,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Crane Trading Up 0.6 %

Shares of NYSE CR opened at $158.35 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $9.05 billion, a PE ratio of 42.45, a PEG ratio of 1.93 and a beta of 0.77. Crane has a twelve month low of $82.57 and a twelve month high of $162.34. The stock has a fifty day simple moving average of $151.80 and a 200-day simple moving average of $145.25.

Crane (NYSE:CR) last released its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.06. The company had revenue of $581.00 million during the quarter, compared to the consensus estimate of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. On average, equities analysts forecast 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. Shareholders of record on Friday, August 30th were issued a dividend of $0.205 per share. The ex-dividend date was Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a yield of 0.52%. Crane’s dividend payout ratio (DPR) is presently 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.