Crane (NYSE:CR) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its position in Crane (NYSE:CR) by 5.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,645 shares of the conglomerate’s stock after selling 150 shares during the period. Sigma Planning Corp’s holdings in Crane were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CR. Capital International Investors raised its position in 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 acquiring an additional 685,230 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 period. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 purchasing an additional 38,310 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 4,276 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in Crane by 12.5% during the second quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after buying an additional 42,743 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CR shares. Deutsche Bank Aktiengesellschaft boosted their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus boosted their target price on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and an average target price of $157.33.

Crane Trading Down 0.2 %

Shares of Crane stock opened at $173.51 on Friday. Crane has a 1 year low of $102.80 and a 1 year high of $180.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The business has a 50 day moving average price of $158.85 and a 200 day moving average price of $151.35. The company has a market capitalization of $9.93 billion, a P/E ratio of 38.22, a P/E/G ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. Sell-side analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 dividend yield of 0.47%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio is presently 18.06%.

Crane 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.