Crane (NYSE:CR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Crane (NYSE:CR) by 95.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,472 shares of the conglomerate’s stock after selling 220,415 shares during the period. Victory Capital Management Inc.’s holdings in Crane were worth $1,658,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Crane during the third quarter worth about $211,000. Harbour Investments Inc. grew its stake in shares of Crane by 285.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,340 shares of the conglomerate’s stock worth $212,000 after purchasing an additional 992 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Crane by 112.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 6,378 shares of the conglomerate’s stock valued at $1,010,000 after purchasing an additional 3,373 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of Crane in the 3rd quarter valued at $208,000. Finally, Consolidated Planning Corp purchased a new stake in Crane during the third quarter worth $211,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CR has been the subject of a number of analyst reports. Stifel Nicolaus downgraded shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft upped their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Crane has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Crane Trading Up 0.2 %

Shares of Crane stock opened at $184.80 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $102.80 and a twelve month high of $188.52. The firm has a market capitalization of $10.58 billion, a PE ratio of 40.70, a P/E/G ratio of 1.93 and a beta of 0.81. The firm’s 50-day moving average price is $162.63 and its 200 day moving average price is $153.05.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. During the same period in the previous year, the company posted $1.03 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio is currently 18.06%.

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.