Central Pacific Bank Trust Division Sells 1,120 Shares of Crane (NYSE:CR)

Central Pacific Bank Trust Division cut its holdings in shares of Crane (NYSE:CR) by 7.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,900 shares of the conglomerate’s stock after selling 1,120 shares during the period. Central Pacific Bank Trust Division’s holdings in Crane were worth $2,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CR. Y Intercept Hong Kong Ltd bought a new stake in shares of Crane in the 3rd quarter valued at about $515,000. AQR Capital Management LLC raised its stake in Crane by 11.9% in the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock valued at $27,902,000 after buying an additional 20,518 shares during the period. WINTON GROUP Ltd boosted its stake in shares of Crane by 70.7% during the 2nd quarter. WINTON GROUP Ltd now owns 123,961 shares of the conglomerate’s stock worth $17,972,000 after acquiring an additional 51,342 shares during the period. Chesapeake Capital Corp IL acquired a new position in shares of Crane during the 2nd quarter worth approximately $509,000. Finally, Envestnet Asset Management Inc. raised its stake in Crane by 4.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 112,797 shares of the conglomerate’s stock valued at $16,353,000 after acquiring an additional 4,355 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CR. Stifel Nicolaus cut shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a research report on Monday, November 18th. UBS Group upped their price target on shares of Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.00.

Crane Stock Performance

Shares of NYSE:CR traded up $2.89 on Friday, reaching $153.87. 84,395 shares of the company’s stock were exchanged, compared to its average volume of 139,326. Crane has a twelve month low of $110.49 and a twelve month high of $188.52. The company has a fifty day moving average of $167.54 and a 200-day moving average of $156.83. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 20.38, a PEG 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.

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 firm 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 company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. On average, research analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.53%. Crane’s payout ratio is 18.06%.

About Crane

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.