Entropy Technologies LP Takes Position in Crane (NYSE:CR)

Entropy Technologies LP bought a new position in Crane (NYSE:CR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,800 shares of the conglomerate’s stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in Crane during the third quarter worth about $515,000. Citigroup Inc. raised its holdings in shares of Crane by 328.3% during the 3rd quarter. Citigroup Inc. now owns 23,790 shares of the conglomerate’s stock valued at $3,765,000 after buying an additional 18,236 shares in the last quarter. Twelve Points Wealth Management LLC lifted its position in Crane by 50.5% in the 4th quarter. Twelve Points Wealth Management LLC now owns 9,535 shares of the conglomerate’s stock worth $1,447,000 after buying an additional 3,200 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Crane by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 585,718 shares of the conglomerate’s stock worth $92,707,000 after buying an additional 3,188 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Crane by 5.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 68,012 shares of the conglomerate’s stock valued at $10,765,000 after acquiring an additional 3,500 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Alejandro Alcala sold 2,293 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $170.96, for a total value of $392,011.28. Following the completion of the transaction, the vice president now directly owns 32,963 shares of the company’s stock, valued at $5,635,354.48. This represents a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by insiders.

Crane Price Performance

Shares of Crane stock opened at $173.31 on Tuesday. The company’s fifty day simple moving average is $161.67 and its two-hundred day simple moving average is $159.83. Crane has a 12-month low of $118.48 and a 12-month high of $188.52. The firm has a market cap of $9.92 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last posted its earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same period in the previous year, the firm earned $0.90 EPS. As a group, equities analysts expect that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 28th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Friday, February 28th. This is an increase from Crane’s previous quarterly dividend of $0.21. Crane’s dividend payout ratio is currently 18.18%.

Analyst Ratings Changes

CR has been the subject of a number of recent research reports. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. DA Davidson boosted their price target on shares of Crane from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Stifel Nicolaus reduced their price objective on Crane from $176.00 to $170.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, UBS Group boosted their target price on Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.80.

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.