Crane (NYSE:CR) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Crane (NYSE:CR) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,473 shares of the conglomerate’s stock after acquiring an additional 1,029 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crane were worth $1,237,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp raised its stake in Crane by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 99 shares during the last quarter. Raymond James Trust N.A. purchased a new stake in shares of Crane during the fourth quarter worth approximately $203,000. DAVENPORT & Co LLC acquired a new stake in shares of Crane during the fourth quarter worth $207,000. Cadent Capital Advisors LLC acquired a new stake in shares of Crane during the fourth quarter worth $246,000. Finally, Jump Financial LLC purchased a new position in Crane in the 3rd quarter valued at $201,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Trading Up 0.2 %

Shares of Crane stock opened at $144.24 on Friday. The company has a 50-day moving average of $130.79 and a two-hundred day moving average of $116.03. The stock has a market cap of $8.23 billion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. 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 $67.28 and a 12-month high of $146.29.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. On average, research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be given a $0.205 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. Crane’s dividend payout ratio is presently 21.98%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America raised their target price on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus increased their target price on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, DA Davidson lifted their price target on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Crane presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.00.

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.