Louisiana State Employees Retirement System Sells 400 Shares of Crane (NYSE:CR)

Louisiana State Employees Retirement System lessened its position in Crane (NYSE:CR) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,500 shares of the conglomerate’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Crane were worth $2,137,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors lifted its stake in Crane by 103.3% during 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 period. Dimensional Fund Advisors LP increased its holdings 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 valued at $111,882,000 after purchasing an additional 70,297 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings 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 valued at $98,354,000 after purchasing an additional 83,938 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Crane by 7.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 564,441 shares of the conglomerate’s stock worth $81,833,000 after acquiring an additional 38,310 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Crane by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock worth $62,420,000 after acquiring an additional 4,276 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CR shares. Stifel Nicolaus lifted their target price on Crane from $168.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target 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 assigned a buy rating to the company. According to data from MarketBeat, Crane has a consensus rating of “Moderate Buy” and a consensus target price of $157.33.

Crane Trading Up 4.3 %

Shares of NYSE:CR opened at $158.92 on Wednesday. The firm has a fifty day moving average of $154.36 and a two-hundred day moving average of $148.46. The firm has a market capitalization of $9.09 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Crane has a 12-month low of $91.35 and a 12-month high of $163.48. 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 announced its earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, topping the consensus estimate of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $597.20 million for the quarter, compared to the consensus estimate of $594.45 million. During the same quarter last year, the firm posted $1.03 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 0.52%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

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.