Crane (NYSE:CR) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lowered its stake in shares of Crane (NYSE:CR) by 10.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,409 shares of the conglomerate’s stock after selling 276 shares during the period. Cynosure Group LLC’s holdings in Crane were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Crane by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock worth $111,882,000 after purchasing an additional 70,297 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Crane by 16.1% during the third 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 period. Charles Schwab Investment Management Inc. raised its position in Crane by 0.5% in the third 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Crane by 1.0% during 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 acquiring an additional 4,276 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in shares of Crane by 12.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after buying an additional 42,743 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Crane Trading Down 1.8 %

Shares of CR stock opened at $181.60 on Friday. The firm has a 50-day moving average price of $163.82 and a 200 day moving average price of $153.54. Crane has a 12-month low of $102.80 and a 12-month high of $188.52. The company has a market capitalization of $10.39 billion, a P/E ratio of 40.00, a P/E/G ratio of 1.93 and a beta of 0.81. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last posted its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $594.45 million. During the same period in the previous year, the company earned $1.03 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio (DPR) is presently 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.