Crane (NYSE:CR) Shares Sold by Fmr LLC

Fmr LLC cut its stake in shares of Crane (NYSE:CR) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,607,295 shares of the conglomerate’s stock after selling 563,959 shares during the quarter. Fmr LLC owned 6.30% of Crane worth $570,963,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Select Equity Group L.P. purchased a new position in Crane in the second quarter worth $21,159,000. Hantz Financial Services Inc. purchased a new position in Crane in the second quarter worth $16,205,000. Massachusetts Financial Services Co. MA increased its position in shares of Crane by 16.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock valued at $103,748,000 after buying an additional 91,029 shares in the last quarter. 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 buying an additional 71,544 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Crane by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock valued at $111,882,000 after buying an additional 70,297 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CR shares. Deutsche Bank Aktiengesellschaft raised their price target 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 cut Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $167.00.

Crane Stock Performance

NYSE CR opened at $181.60 on Friday. The firm has a market capitalization of $10.39 billion, a P/E ratio of 40.00, a P/E/G ratio of 1.93 and a beta of 0.81. 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. The business’s 50-day simple moving average is $163.82 and its 200-day simple moving average is $153.54.

Crane (NYSE:CR) last released 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 business had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Equities analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

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