Crane (NYSE:CR) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its holdings in shares of Crane (NYSE:CR) by 56.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,500 shares of the conglomerate’s stock after selling 61,293 shares during the period. Point72 Asset Management L.P. owned approximately 0.08% of Crane worth $7,056,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CR. Park Avenue Securities LLC lifted its position in shares of Crane by 15.0% during the 4th quarter. Park Avenue Securities LLC now owns 3,158 shares of the conglomerate’s stock valued at $479,000 after acquiring an additional 412 shares during the last quarter. Diversify Advisory Services LLC boosted its position in shares of Crane by 23.0% in the 4th quarter. Diversify Advisory Services LLC now owns 2,429 shares of the conglomerate’s stock valued at $365,000 after purchasing an additional 454 shares during the period. UMB Bank n.a. increased its stake in Crane by 69.1% in the 4th quarter. UMB Bank n.a. now owns 372 shares of the conglomerate’s stock worth $56,000 after purchasing an additional 152 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Crane by 37.6% during the 4th quarter. Pacer Advisors Inc. now owns 9,815 shares of the conglomerate’s stock worth $1,489,000 after buying an additional 2,681 shares during the period. Finally, Lebenthal Global Advisors LLC purchased a new stake in Crane during the fourth quarter valued at about $330,000. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group upgraded shares of Crane from a “neutral” rating to a “buy” rating and upped their price target for the company from $157.00 to $190.00 in a research report on Tuesday, April 29th. Stifel Nicolaus boosted their target price on shares of Crane from $144.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $186.00 target price on Crane and gave the stock a “buy” rating in a research report on Monday, April 14th. StockNews.com lowered Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, DA Davidson reissued a “buy” rating and issued a $200.00 price objective on shares of Crane in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.20.

Crane Stock Up 0.2%

CR stock opened at $178.23 on Tuesday. The company has a 50 day moving average of $154.04 and a two-hundred day moving average of $161.47. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.93 and a beta of 1.28. Crane has a 12-month low of $127.04 and a 12-month high of $188.52. 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 quarterly earnings data on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $557.60 million during the quarter, compared to analyst estimates of $546.93 million. During the same period last year, the company earned $1.22 earnings per share. Crane’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 0.52%. Crane’s dividend payout ratio is 15.94%.

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.