Algert Global LLC Cuts Holdings in Crane (NYSE:CR)

Algert Global LLC reduced its position in Crane (NYSE:CR) by 43.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,679 shares of the conglomerate’s stock after selling 7,570 shares during the quarter. Algert Global LLC’s holdings in Crane were worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Griffin Asset Management Inc. raised its position in Crane by 0.3% in the third quarter. Griffin Asset Management Inc. now owns 34,038 shares of the conglomerate’s stock valued at $5,388,000 after purchasing an additional 90 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Crane by 2.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock valued at $529,000 after purchasing an additional 94 shares during the period. UMB Bank n.a. raised its position in Crane by 81.8% in the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 99 shares during the period. SummerHaven Investment Management LLC raised its position in Crane by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock valued at $1,176,000 after purchasing an additional 104 shares during the period. Finally, Blue Trust Inc. raised its position in Crane by 29.9% in the second quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock valued at $66,000 after purchasing an additional 112 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus lowered Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Crane Stock Down 1.8 %

Shares of NYSE CR opened at $181.60 on Friday. Crane has a 1 year low of $102.80 and a 1 year high of $188.52. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 40.03, a PEG ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock’s 50-day simple moving average is $163.82 and its 200-day simple moving average is $153.54.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. The business had revenue of $597.20 million during 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% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. As a group, equities analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

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