Los Angeles Capital Management LLC Purchases 3,373 Shares of Crane (NYSE:CR)

Los Angeles Capital Management LLC boosted its position in Crane (NYSE:CR) by 112.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,378 shares of the conglomerate’s stock after acquiring an additional 3,373 shares during the period. Los Angeles Capital Management LLC’s holdings in Crane were worth $1,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CR. Matrix Trust Co bought a new stake in shares of Crane during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in Crane in the third quarter valued at about $28,000. Covestor Ltd lifted its stake in Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after buying an additional 131 shares during the period. ORG Wealth Partners LLC bought a new position in Crane during the third quarter worth about $30,000. Finally, ORG Partners LLC acquired a new position in shares of Crane during the 2nd quarter worth about $31,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Down 0.2 %

Shares of CR stock opened at $173.51 on Friday. Crane has a 12-month low of $102.80 and a 12-month high of $180.87. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $158.85 and a 200-day moving average of $151.35. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 1.93 and a beta of 0.81.

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

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.47%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Analyst Ratings Changes

Several research analysts recently weighed in on CR shares. Deutsche Bank Aktiengesellschaft lifted 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. Stifel Nicolaus increased their target price on shares of Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.33.

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.