Wilmington Savings Fund Society FSB Purchases New Holdings in Crane (NYSE:CR)

by · The Markets Daily

Wilmington Savings Fund Society FSB acquired a new position in shares of Crane (NYSE:CR – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 545 shares of the conglomerate’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Crane by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock valued at $529,000 after buying an additional 94 shares in the last quarter. Raymond James & Associates boosted its position in Crane by 1.9% during the 2nd quarter. Raymond James & Associates now owns 69,790 shares of the conglomerate’s stock worth $10,118,000 after acquiring an additional 1,309 shares during the period. Retirement Systems of Alabama grew its stake in Crane by 108.8% during the 2nd quarter. Retirement Systems of Alabama now owns 128,104 shares of the conglomerate’s stock valued at $18,573,000 after acquiring an additional 66,747 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Crane by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock valued at $62,420,000 after purchasing an additional 4,276 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Crane by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,692 shares of the conglomerate’s stock worth $1,550,000 after purchasing an additional 866 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Price Performance

Shares of CR opened at $152.80 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The firm has a market cap of $8.75 billion, a PE ratio of 20.24, a PEG ratio of 1.93 and a beta of 0.93. The firm’s 50 day moving average price is $168.26 and its 200 day moving average price is $156.15. Crane has a twelve month low of $110.49 and a twelve month high of $188.52.

Crane (NYSE:CR – Get Free Report) last released its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.06. The business had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. As a group, research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, November 29th. Crane’s dividend payout ratio is 18.06%.

Analyst Ratings Changes

CR has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus downgraded shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a research note on Monday, November 18th. Two 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 has an average rating of “Moderate Buy” and an average price target of $167.00.

Check Out Our Latest Research Report on Crane

Crane 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.

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