Creative Planning Buys 2,247 Shares of Crane (NYSE:CR)

Creative Planning increased its stake in Crane (NYSE:CR) by 17.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,983 shares of the conglomerate’s stock after purchasing an additional 2,247 shares during the period. Creative Planning’s holdings in Crane were worth $2,372,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Capital International Investors increased its position in shares of Crane by 103.3% in the first quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock worth $182,216,000 after purchasing an additional 685,230 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Crane by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock worth $111,882,000 after purchasing an additional 70,297 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Crane by 13.0% in the first quarter. Lord Abbett & CO. LLC now owns 727,846 shares of the conglomerate’s stock worth $98,354,000 after purchasing an additional 83,938 shares during the period. Massachusetts Financial Services Co. MA grew its position in Crane by 7.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 564,441 shares of the conglomerate’s stock valued at $81,833,000 after acquiring an additional 38,310 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Crane by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock valued at $62,420,000 after acquiring an additional 4,276 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CR. Stifel Nicolaus lifted their target price on Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.33.

Crane Stock Performance

Shares of CR stock opened at $149.06 on Monday. The business’s 50-day moving average price is $154.09 and its 200-day moving average price is $148.18. Crane has a 12 month low of $90.91 and a 12 month high of $163.48. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 1.93 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates of $568.33 million. During the same period last year, the firm posted $1.10 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities research analysts forecast that Crane will post 7.87 EPS for the current year.

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.