Crane (NYSE:CR) Position Trimmed by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division trimmed its stake in Crane (NYSE:CR) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,900 shares of the conglomerate’s stock after selling 1,120 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Crane were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Crane by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 128,577 shares of the conglomerate’s stock valued at $20,351,000 after purchasing an additional 510 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Crane by 3.2% during the 3rd quarter. Retirement Systems of Alabama now owns 132,200 shares of the conglomerate’s stock valued at $20,925,000 after purchasing an additional 4,096 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Crane by 19.9% during the third quarter. Tidal Investments LLC now owns 6,017 shares of the conglomerate’s stock worth $952,000 after purchasing an additional 997 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane during the third quarter valued at approximately $86,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Crane in the third quarter valued at approximately $4,459,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CR has been the topic of a number of recent research reports. UBS Group increased their price objective on Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus lowered shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.00.

Crane Trading Up 1.9 %

Shares of CR stock traded up $2.89 on Friday, reaching $153.87. The company had a trading volume of 84,395 shares, compared to its average volume of 139,326. The stock has a market cap of $8.81 billion, a PE ratio of 20.38, a PEG ratio of 1.93 and a beta of 0.93. The company has a 50-day moving average of $167.54 and a 200-day moving average of $156.83. 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 has a 12 month low of $110.49 and a 12 month high of $188.52.

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

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a $0.205 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.53%. Crane’s payout ratio is 18.06%.

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.