Brooklyn Investment Group Makes New Investment in Crane (NYSE:CR)

Brooklyn Investment Group purchased a new position in Crane (NYSE:CR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 602 shares of the conglomerate’s stock, valued at approximately $95,000.

Other large investors have also modified their holdings of the company. Griffin Asset Management Inc. lifted its stake in Crane by 0.3% in the third quarter. Griffin Asset Management Inc. now owns 34,038 shares of the conglomerate’s stock worth $5,388,000 after acquiring an additional 90 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Crane by 2.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock worth $529,000 after purchasing an additional 94 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Crane by 81.8% during the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 99 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Crane by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock valued at $1,176,000 after buying an additional 104 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Crane by 29.9% in the second quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock valued at $66,000 after buying an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CR. Deutsche Bank Aktiengesellschaft upped their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Crane Stock Down 1.8 %

Shares of NYSE CR opened at $181.72 on Thursday. The business has a 50-day moving average price of $163.28 and a 200 day moving average price of $153.34. The stock has a market cap of $10.40 billion, a PE ratio of 40.03, a price-to-earnings-growth 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 has a 52-week low of $102.80 and a 52-week high of $188.52.

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

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.45%. Crane’s dividend payout ratio is presently 18.06%.

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.