Townsquare Capital LLC Sells 10,927 Shares of Crane (NYSE:CR)

Townsquare Capital LLC reduced its holdings in shares of Crane (NYSE:CR) by 36.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,777 shares of the conglomerate’s stock after selling 10,927 shares during the quarter. Townsquare Capital LLC’s holdings in Crane were worth $2,972,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Crane by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock valued at $111,882,000 after purchasing an additional 70,297 shares during the period. Massachusetts Financial Services Co. MA grew its position in 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 buying an additional 91,029 shares in 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 raised its holdings in shares of Crane by 1.0% in 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 in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of Crane by 12.5% during the second quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after purchasing an additional 42,743 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Crane Price Performance

CR stock opened at $182.08 on Friday. The firm has a market cap of $10.42 billion, a P/E ratio of 40.11, a P/E/G ratio of 1.93 and a beta of 0.81. The firm’s fifty day moving average is $164.36 and its 200 day moving average is $153.73. Crane has a 52 week low of $102.80 and a 52 week high of $188.52. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.

Crane (NYSE:CR) last announced 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 firm had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. During the same period last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend 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 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.