Paloma Partners Management Co Acquires New Stake in Crane (NYSE:CR)

Paloma Partners Management Co bought a new stake in Crane (NYSE:CR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,851 shares of the conglomerate’s stock, valued at approximately $293,000.

Several other institutional investors and hedge funds have also bought and sold shares of CR. Griffin Asset Management Inc. lifted its stake in shares of Crane by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 34,038 shares of the conglomerate’s stock worth $5,388,000 after purchasing an additional 90 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Crane by 2.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock worth $529,000 after acquiring an additional 94 shares during the last quarter. UMB Bank n.a. grew its position in shares of Crane by 81.8% during the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 99 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Crane by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock worth $1,176,000 after purchasing an additional 104 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Crane by 29.9% in the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after purchasing an additional 112 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CR shares. Deutsche Bank Aktiengesellschaft upped their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus lowered shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 target price for the company. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Crane Stock Performance

NYSE CR opened at $176.17 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $102.80 and a twelve month high of $188.52. The business has a 50-day moving average price of $166.36 and a 200-day moving average price of $154.75. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities 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 will be paid on Wednesday, December 11th. Stockholders 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 annualized dividend and a dividend yield of 0.47%. Crane’s dividend payout ratio (DPR) is 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.