Kooman & Associates Buys New Position in Crane (NYSE:CR)

Kooman & Associates purchased a new position in shares of Crane (NYSE:CR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,689 shares of the conglomerate’s stock, valued at approximately $390,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Crane by 11.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,955 shares of the conglomerate’s stock valued at $718,000 after acquiring an additional 513 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Crane by 6.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 69,852 shares of the conglomerate’s stock worth $10,127,000 after buying an additional 4,054 shares in the last quarter. Edgestream Partners L.P. bought a new position in Crane in the second quarter valued at $287,000. Renaissance Technologies LLC increased its position in shares of Crane by 204.5% during the 2nd quarter. Renaissance Technologies LLC now owns 20,100 shares of the conglomerate’s stock valued at $2,914,000 after purchasing an additional 13,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Crane by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock valued at $111,882,000 after acquiring an additional 70,297 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Price Performance

Shares of CR opened at $152.61 on Wednesday. Crane has a 1-year low of $82.57 and a 1-year high of $162.34. The firm has a market capitalization of $8.72 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The company’s fifty day moving average price is $150.51 and its 200-day moving average price is $143.32.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The company had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 EPS. On average, equities research analysts predict 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, September 11th. Stockholders of record on Friday, August 30th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, August 30th. Crane’s dividend payout ratio (DPR) is presently 21.98%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Bank of America lifted their price objective on Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $155.00.

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.