Freedom Investment Management Inc. Has $307,000 Holdings in Crane (NYSE:CR)

Freedom Investment Management Inc. decreased its position in Crane (NYSE:CR) by 14.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,937 shares of the conglomerate’s stock after selling 337 shares during the quarter. Freedom Investment Management Inc.’s holdings in Crane were worth $307,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Crane by 11.9% during the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock worth $27,902,000 after purchasing an additional 20,518 shares during the last quarter. WINTON GROUP Ltd boosted its stake in shares of Crane by 70.7% during the 2nd quarter. WINTON GROUP Ltd now owns 123,961 shares of the conglomerate’s stock worth $17,972,000 after buying an additional 51,342 shares during the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Crane in the 2nd quarter valued at about $509,000. American Century Companies Inc. increased its position in shares of Crane by 673.2% in the second quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock valued at $11,913,000 after acquiring an additional 71,544 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Crane by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 112,797 shares of the conglomerate’s stock worth $16,353,000 after acquiring an additional 4,355 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CR. Stifel Nicolaus lowered Crane from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Crane Stock Performance

Shares of NYSE CR opened at $182.08 on Friday. Crane has a 12 month low of $102.80 and a 12 month high of $188.52. The stock has a 50 day moving average of $164.96 and a 200-day moving average of $154.01. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $10.42 billion, a P/E ratio of 40.11, a P/E/G ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.06. The company had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, equities research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, November 29th. Crane’s payout ratio is 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.