M&T Bank Corp Acquires 86 Shares of Crane (NYSE:CR)

M&T Bank Corp lifted its holdings in Crane (NYSE:CR) by 1.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,336 shares of the conglomerate’s stock after buying an additional 86 shares during the quarter. M&T Bank Corp’s holdings in Crane were worth $1,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new position in Crane in the 3rd quarter worth approximately $515,000. XTX Topco Ltd raised its position in shares of Crane by 11.2% during the third quarter. XTX Topco Ltd now owns 4,915 shares of the conglomerate’s stock worth $778,000 after acquiring an additional 497 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Crane during the third quarter worth $532,000. EP Wealth Advisors LLC lifted its stake in shares of Crane by 8.8% during the third quarter. EP Wealth Advisors LLC now owns 2,371 shares of the conglomerate’s stock valued at $375,000 after acquiring an additional 191 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Crane in the third quarter valued at about $1,252,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Performance

Shares of CR stock opened at $164.97 on Monday. The stock has a 50-day moving average of $168.19 and a 200-day moving average of $156.00. Crane has a one year low of $106.89 and a one year high of $188.52. The stock has a market cap of $9.44 billion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CR) last issued its earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating the consensus estimate of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were issued a $0.205 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.82 annualized dividend and a dividend yield of 0.50%. Crane’s dividend payout ratio (DPR) is currently 18.06%.

Wall Street Analyst Weigh In

CR has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus downgraded shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a research note on Monday, November 18th. 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, Crane has an average rating of “Moderate Buy” and a consensus price target of $167.00.

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.