HighPoint Advisor Group LLC Takes Position in Crane (NYSE:CR)

HighPoint Advisor Group LLC purchased a new stake in shares of Crane (NYSE:CRFree Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,047 shares of the conglomerate’s stock, valued at approximately $951,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Crane by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 99 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Crane in the fourth quarter worth approximately $90,000. Claret Asset Management Corp bought a new position in shares of Crane in the fourth quarter worth approximately $201,000. Raymond James Trust N.A. bought a new position in shares of Crane in the fourth quarter worth approximately $203,000. Finally, DAVENPORT & Co LLC bought a new position in shares of Crane in the fourth quarter worth approximately $207,000. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. UBS Group increased their price target on shares of Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. DA Davidson increased their price target on shares of Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Stifel Nicolaus reiterated a “buy” rating and set a $157.00 price target on shares of Crane in a research report on Wednesday, May 15th. Finally, StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday, April 27th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Crane presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.67.

Read Our Latest Stock Report on CR

Crane Trading Down 0.1 %

Shares of NYSE:CR traded down $0.16 during trading on Tuesday, reaching $141.34. 2,549 shares of the company traded hands, compared to its average volume of 231,476. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 1.93 and a beta of 0.87. Crane has a 52-week low of $78.83 and a 52-week high of $150.01. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $142.00 and its 200-day moving average is $128.54.

Crane (NYSE:CRGet Free Report) last released its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $565.30 million during the quarter, compared to analyst estimates of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. As a group, analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, May 31st. Crane’s payout ratio is 21.98%.

Crane Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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