Pitcairn Co. Sells 646 Shares of Crane (NYSE:CR)

Pitcairn Co. decreased its position in Crane (NYSE:CR) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,249 shares of the conglomerate’s stock after selling 646 shares during the quarter. Pitcairn Co.’s holdings in Crane were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Crane by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock worth $111,882,000 after acquiring an additional 70,297 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Crane by 16.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock worth $103,748,000 after acquiring an additional 91,029 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Crane by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,718 shares of the conglomerate’s stock worth $92,707,000 after acquiring an additional 3,188 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Crane by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock worth $62,420,000 after acquiring an additional 4,276 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Crane by 12.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after acquiring an additional 42,743 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CR. Deutsche Bank Aktiengesellschaft lifted their target price on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 target price for the company. in a report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Crane Price Performance

CR opened at $184.36 on Monday. The business has a fifty day moving average of $161.99 and a 200 day moving average of $152.76. Crane has a 52-week low of $102.80 and a 52-week high of $185.55. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The stock has a market cap of $10.55 billion, a P/E ratio of 40.61, a PEG ratio of 1.93 and a beta of 0.81.

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

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s dividend 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.