2,689 Shares in Crane (NYSE:CR) Purchased by Kooman & Associates

Kooman & Associates acquired a new stake in Crane (NYSE:CR) in the second quarter, HoldingsChannel.com reports. The fund acquired 2,689 shares of the conglomerate’s stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Silvercrest Asset Management Group LLC boosted its position in shares of 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 buying an additional 7,945 shares during the period. Castleark Management LLC lifted its position in Crane by 13.7% in the 1st quarter. Castleark Management LLC now owns 33,360 shares of the conglomerate’s stock valued at $4,508,000 after purchasing an additional 4,020 shares during the last quarter. Morningstar Investment Services LLC raised its holdings in shares of Crane by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 126,031 shares of the conglomerate’s stock valued at $14,913,000 after buying an additional 62,613 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in Crane during the 4th quarter worth $951,000. Finally, Russell Investments Group Ltd. lifted its holdings in Crane by 70.1% in the first quarter. Russell Investments Group Ltd. now owns 75,410 shares of the conglomerate’s stock worth $10,190,000 after purchasing an additional 31,069 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

CR has been the subject of several research reports. Bank of America raised their price objective on shares of Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Crane from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus upped their price objective on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

Crane Price Performance

CR opened at $152.61 on Wednesday. The company’s 50 day simple moving average is $150.51 and its 200-day simple moving average is $143.32. 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 has a market capitalization of $8.72 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Crane has a one year low of $82.57 and a one year high of $162.34.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. During the same quarter in the prior year, the company earned $1.10 earnings per share. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. Sell-side analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.82 annualized dividend and a yield of 0.54%. Crane’s dividend payout ratio (DPR) is presently 21.98%.

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.