Crane (NYSE:CR) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its holdings in Crane (NYSE:CR) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,018 shares of the conglomerate’s stock after selling 3,772 shares during the quarter. Raymond James & Associates’ holdings in Crane were worth $10,449,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Capital International Investors boosted its stake in shares of Crane by 103.3% during the 1st quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock worth $182,216,000 after acquiring an additional 685,230 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Crane by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock valued at $111,882,000 after purchasing an additional 70,297 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Crane by 13.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 727,846 shares of the conglomerate’s stock valued at $98,354,000 after purchasing an additional 83,938 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Crane by 7.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 564,441 shares of the conglomerate’s stock worth $81,833,000 after purchasing an additional 38,310 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Crane by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock worth $62,420,000 after buying an additional 4,276 shares during the period. Institutional investors own 75.14% of the company’s stock.

Crane Stock Performance

CR stock opened at $152.21 on Tuesday. The firm has a 50 day simple moving average of $154.14 and a 200 day simple moving average of $148.29. Crane has a 52 week low of $91.35 and a 52 week high of $163.48. The stock has a market cap of $8.70 billion, a P/E ratio of 40.81, a P/E/G ratio of 1.93 and a beta of 0.77. 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 (NYSE:CR) last issued its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. During the same quarter last year, the business posted $1.10 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.54%. Crane’s payout ratio is 21.98%.

Analyst Ratings Changes

CR has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Crane has a consensus rating of “Moderate Buy” and a consensus target price of $157.33.

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.