Harbour Investments Inc. Buys 992 Shares of Crane (NYSE:CR)

Harbour Investments Inc. raised its position in shares of Crane (NYSE:CR) by 285.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,340 shares of the conglomerate’s stock after acquiring an additional 992 shares during the quarter. Harbour Investments Inc.’s holdings in Crane were worth $212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CR. Silvercrest Asset Management Group LLC raised its holdings in Crane by 4.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 193,053 shares of the conglomerate’s stock worth $26,087,000 after purchasing an additional 7,945 shares in the last quarter. Castleark Management LLC lifted its position in Crane by 13.7% during the 1st quarter. Castleark Management LLC now owns 33,360 shares of the conglomerate’s stock valued at $4,508,000 after acquiring an additional 4,020 shares during the period. Capital International Investors grew its holdings 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 purchasing an additional 685,230 shares during the period. AQR Capital Management LLC increased its stake in shares of Crane by 11.9% during the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock valued at $27,902,000 after purchasing an additional 20,518 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in shares of Crane by 70.7% during the second quarter. WINTON GROUP Ltd now owns 123,961 shares of the conglomerate’s stock valued at $17,972,000 after purchasing an additional 51,342 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Crane Stock Down 0.2 %

Shares of CR opened at $173.50 on Monday. Crane has a 12-month low of $102.80 and a 12-month high of $180.87. 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 company has a market capitalization of $9.93 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The business’s 50 day moving average is $158.85 and its 200 day moving average is $151.51.

Crane (NYSE:CR) last released 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. The firm had revenue of $597.20 million for the quarter, compared to the consensus estimate of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Research analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.47%. Crane’s dividend payout ratio is currently 18.06%.

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.