Legacy Wealth Asset Management LLC Has $322,000 Position in Crane (NYSE:CR)

Legacy Wealth Asset Management LLC lowered its stake in shares of Crane (NYSE:CR) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,103 shares of the conglomerate’s stock after selling 102 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Crane were worth $322,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CR. Huntington National Bank increased its stake in shares of Crane by 487.8% in the 4th quarter. Huntington National Bank now owns 241 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Crane by 17.8% in the 4th quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate’s stock valued at $89,000 after purchasing an additional 88 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Crane in the 4th quarter valued at $101,000. Quarry LP increased its stake in shares of Crane by 250.6% in the 4th quarter. Quarry LP now owns 817 shares of the conglomerate’s stock valued at $124,000 after purchasing an additional 584 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Crane by 901.1% in the 4th quarter. Covestor Ltd now owns 911 shares of the conglomerate’s stock valued at $138,000 after purchasing an additional 820 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

CR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $186.00 price target on Crane and gave the company a “buy” rating in a research note on Monday, April 14th. UBS Group upgraded Crane from a “neutral” rating to a “buy” rating and lifted their price target for the company from $157.00 to $190.00 in a research note on Tuesday, April 29th. DA Davidson reissued a “buy” rating and set a $200.00 price objective on shares of Crane in a report on Tuesday, March 11th. Wall Street Zen downgraded Crane from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus raised their price objective on Crane from $144.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.50.

Crane Trading Down 1.1%

NYSE CR opened at $171.34 on Monday. 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 has a twelve month low of $127.04 and a twelve month high of $188.52. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The business’s fifty day moving average is $157.17 and its 200 day moving average is $161.39.

Crane (NYSE:CR) last announced its earnings results on Monday, April 28th. The conglomerate reported $1.39 EPS for the quarter, topping the consensus estimate of $1.29 by $0.10. The firm had revenue of $557.60 million for the quarter, compared to the consensus estimate of $546.93 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. As a group, sell-side analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, May 30th. Crane’s payout ratio is presently 15.94%.

Insiders Place Their Bets

In other Crane news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total transaction of $230,230.00. Following the transaction, the senior vice president now directly owns 9,796 shares of the company’s stock, valued at approximately $1,734,871.60. The trade was a 11.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.12% of the company’s stock.

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.