Legacy Wealth Asset Management LLC Trims Stock Holdings in Crane (NYSE:CR)

Legacy Wealth Asset Management LLC decreased its stake in shares of Crane (NYSE:CR) by 8.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,205 shares of the conglomerate’s stock after selling 213 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Crane were worth $335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Matrix Trust Co bought a new position in shares of Crane in the third quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in Crane in the third quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new position in shares of Crane during the 3rd quarter valued at $30,000. UMB Bank n.a. increased its holdings in shares of Crane by 81.8% in the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock worth $35,000 after buying an additional 99 shares during the period. Finally, Quarry LP bought a new stake in Crane in the third quarter valued at approximately $37,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

Shares of CR stock opened at $155.98 on Friday. The business’s fifty day moving average is $165.48 and its 200 day moving average is $157.56. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.93 and a beta of 1.22. Crane has a twelve month low of $110.49 and a twelve month high of $188.52.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, topping 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 company had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. During the same period last year, the business earned $1.03 EPS. Crane’s quarterly revenue was up 12.7% compared to the same quarter last year. Research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

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

Wall Street Analysts Forecast Growth

CR has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Stifel Nicolaus cut shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a report 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 currently has a consensus rating of “Moderate Buy” and an average target price of $168.00.

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.