Crane (NYSE:CR) Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. increased its stake in Crane (NYSE:CR) by 285.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,340 shares of the conglomerate’s stock after purchasing an additional 992 shares during the quarter. Harbour Investments Inc.’s holdings in Crane were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CR. Covestor Ltd increased its position in Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after buying an additional 131 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Crane by 2.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,443 shares of the conglomerate’s stock valued at $1,411,000 after purchasing an additional 216 shares in the last quarter. Bessemer Group Inc. grew its stake in Crane by 7.1% during the first quarter. Bessemer Group Inc. now owns 204,943 shares of the conglomerate’s stock worth $27,693,000 after buying an additional 13,610 shares during the last quarter. Natixis bought a new position in Crane in the 1st quarter valued at $581,000. Finally, EP Wealth Advisors LLC lifted its position in Crane by 7.4% during the 1st quarter. EP Wealth Advisors LLC now owns 2,153 shares of the conglomerate’s stock worth $291,000 after buying an additional 148 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CR. Stifel Nicolaus boosted their price target on shares of Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.33.

Crane Price Performance

Shares of NYSE:CR opened at $173.50 on Monday. The company has a 50-day moving average price of $158.85 and a two-hundred day moving average price of $151.51. 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 $102.80 and a twelve month high of $180.87. The firm has a market capitalization of $9.93 billion, a PE ratio of 38.22, a P/E/G ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. During the same period in the prior year, the business earned $1.03 earnings per share. Crane’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

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

Crane 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.