Channing Capital Management LLC Has $11.10 Million Stock Holdings in Crane (NYSE:CR)

Channing Capital Management LLC reduced its position in Crane (NYSE:CR) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 73,173 shares of the conglomerate’s stock after selling 931 shares during the period. Channing Capital Management LLC’s holdings in Crane were worth $11,104,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Quarry LP acquired a new stake in shares of Crane in the third quarter valued at approximately $37,000. Millburn Ridgefield Corp bought a new stake in Crane in the 3rd quarter valued at $45,000. Truvestments Capital LLC bought a new stake in Crane in the 3rd quarter valued at $56,000. UMB Bank n.a. lifted its holdings in Crane by 69.1% during the 4th quarter. UMB Bank n.a. now owns 372 shares of the conglomerate’s stock valued at $56,000 after purchasing an additional 152 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Crane during the third quarter worth $86,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Price Performance

Crane stock opened at $153.78 on Tuesday. The firm has a market cap of $8.83 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.93 and a beta of 1.30. 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 stock’s fifty day moving average price is $161.86 and its two-hundred day moving average price is $161.77. Crane has a one year low of $127.82 and a one year high of $188.52.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same period in the previous year, the company earned $0.90 EPS. As a group, research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, February 28th. This is an increase from Crane’s previous quarterly dividend of $0.21. Crane’s dividend payout ratio is 18.18%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. StockNews.com cut Crane from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. DA Davidson increased their target price on Crane from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Stifel Nicolaus reduced their price target on Crane from $176.00 to $170.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.80.

Insider Buying and Selling

In related news, VP Alejandro Alcala sold 2,293 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $170.96, for a total value of $392,011.28. Following the sale, the vice president now directly owns 32,963 shares of the company’s stock, valued at $5,635,354.48. This trade represents a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by company insiders.

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.