Crane (NYSE:CR) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its position in shares of Crane (NYSE:CR) by 0.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,548 shares of the conglomerate’s stock after selling 99 shares during the quarter. Congress Wealth Management LLC DE owned about 0.23% of Crane worth $17,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Crane by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate’s stock worth $578,282,000 after buying an additional 16,167 shares during the period. Capital World Investors boosted its position in shares of Crane by 4.0% in the fourth quarter. Capital World Investors now owns 2,095,540 shares of the conglomerate’s stock worth $247,567,000 after buying an additional 79,710 shares during the period. Congress Asset Management Co. MA boosted its position in shares of Crane by 0.5% in the fourth quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock worth $156,282,000 after buying an additional 6,605 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Crane by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 742,252 shares of the conglomerate’s stock worth $87,690,000 after buying an additional 37,388 shares during the period. Finally, Capital International Investors boosted its position in shares of Crane by 44.7% in the fourth quarter. Capital International Investors now owns 663,221 shares of the conglomerate’s stock worth $78,353,000 after buying an additional 204,924 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on CR. DA Davidson increased their price target on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. UBS Group increased their price target on Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Bank of America increased their target price on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $157.00 target price on shares of Crane in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $143.67.

Crane Stock Performance

CR traded down $2.08 during trading hours on Monday, hitting $142.90. The company’s stock had a trading volume of 295,222 shares, compared to its average volume of 233,540. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $150.01. The firm has a market capitalization of $8.17 billion, a PE ratio of 38.31, a PEG ratio of 1.93 and a beta of 0.87. The company has a 50-day simple moving average of $144.28 and a 200 day simple moving average of $131.19. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $565.30 million for the quarter, compared to analysts’ expectations of $546.39 million. During the same period last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, May 31st. Crane’s dividend payout ratio is presently 21.98%.

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.