Crane (NYSE:CR) Position Reduced by Seelaus Asset Management LLC

Seelaus Asset Management LLC lowered its position in shares of Crane (NYSE:CR) by 15.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,225 shares of the conglomerate’s stock after selling 400 shares during the quarter. Seelaus Asset Management LLC’s holdings in Crane were worth $352,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CR. Capital International Investors raised its position in Crane by 103.3% during the first quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock valued at $182,216,000 after buying an additional 685,230 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of 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 lifted its position in shares of Crane by 7.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 564,441 shares of the conglomerate’s stock worth $81,833,000 after purchasing an additional 38,310 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Crane by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock worth $62,420,000 after purchasing an additional 4,276 shares during the period. Finally, Driehaus Capital Management LLC grew its position in Crane by 12.5% during the second quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock valued at $55,758,000 after purchasing an additional 42,743 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus upped their target price on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.33.

Crane Price Performance

NYSE CR opened at $173.51 on Friday. Crane has a 1 year low of $102.80 and a 1 year high of $180.87. The company has a fifty day simple moving average of $158.85 and a 200 day simple moving average of $151.35. 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 company has a market cap of $9.93 billion, a P/E ratio of 38.22, a P/E/G ratio of 1.93 and a beta of 0.81.

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

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 0.47%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio (DPR) is currently 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.