PEAK6 Investments LLC Trims Stock Position in Crane (NYSE:CR)

PEAK6 Investments LLC trimmed its stake in Crane (NYSE:CR) by 66.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,327 shares of the conglomerate’s stock after selling 27,905 shares during the period. PEAK6 Investments LLC’s holdings in Crane were worth $2,268,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CR. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Crane by 2.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,902 shares of the conglomerate’s stock worth $1,726,000 after buying an additional 210 shares during the period. FORA Capital LLC lifted its stake in shares of Crane by 18.4% in the 3rd quarter. FORA Capital LLC now owns 6,903 shares of the conglomerate’s stock valued at $1,093,000 after purchasing an additional 1,071 shares during the period. Brooklyn Investment Group bought a new stake in shares of Crane during the third quarter valued at approximately $95,000. Quantbot Technologies LP grew its stake in Crane by 44.5% in the third quarter. Quantbot Technologies LP now owns 7,717 shares of the conglomerate’s stock worth $1,221,000 after purchasing an additional 2,376 shares during the period. Finally, Truvestments Capital LLC bought a new position in Crane in the third quarter worth $56,000. Institutional investors own 75.14% of the company’s stock.

Crane Price Performance

CR opened at $182.08 on Monday. The firm has a market cap of $10.42 billion, a PE ratio of 40.11, a P/E/G ratio of 1.93 and a beta of 0.81. The stock has a 50-day moving average price of $164.96 and a 200-day moving average price of $154.07. Crane has a 1 year low of $102.80 and a 1 year high of $188.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CR) last issued its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) 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 business had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $594.45 million. During the same period in the previous year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 annualized dividend and a yield of 0.45%. Crane’s dividend payout ratio is 18.06%.

Analyst Ratings Changes

A number of analysts have recently commented on CR shares. Stifel Nicolaus cut shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crane has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.