Crane (NYSE:CR) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in Crane (NYSE:CR) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 18,259 shares of the conglomerate’s stock after selling 893 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Crane were worth $2,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Crane by 11.9% during the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock worth $27,902,000 after acquiring an additional 20,518 shares during the period. WINTON GROUP Ltd raised its holdings in shares of Crane by 70.7% in the 2nd quarter. WINTON GROUP Ltd now owns 123,961 shares of the conglomerate’s stock worth $17,972,000 after purchasing an additional 51,342 shares in the last quarter. Chesapeake Capital Corp IL acquired a new stake in Crane during the second quarter valued at approximately $509,000. Y Intercept Hong Kong Ltd bought a new stake in Crane during the third quarter worth approximately $515,000. Finally, American Century Companies Inc. grew its position in Crane by 673.2% in the second quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock worth $11,913,000 after buying an additional 71,544 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus cut 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Crane has an average rating of “Moderate Buy” and an average price target of $167.00.

Crane Stock Performance

Shares of CR stock opened at $164.34 on Tuesday. Crane has a 1-year low of $110.20 and a 1-year high of $188.52. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 1.93 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $168.32 and its 200-day simple moving average is $156.12.

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

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, November 29th. Crane’s payout ratio is currently 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.