Lord Abbett & CO. LLC Sells 154,888 Shares of Crane (NYSE:CR)

Lord Abbett & CO. LLC lessened its position in shares of Crane (NYSE:CR) by 20.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 595,454 shares of the conglomerate’s stock after selling 154,888 shares during the period. Lord Abbett & CO. LLC owned 1.04% of Crane worth $94,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp raised its position in shares of Crane by 1.2% in the 3rd quarter. M&T Bank Corp now owns 7,336 shares of the conglomerate’s stock worth $1,161,000 after acquiring an additional 86 shares in the last quarter. Griffin Asset Management Inc. increased its holdings in Crane by 0.3% in the third 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Crane by 2.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock valued at $529,000 after buying an additional 94 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Crane by 2.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,530 shares of the conglomerate’s stock worth $561,000 after buying an additional 96 shares in the last quarter. Finally, 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 worth $35,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Down 0.7 %

Crane stock opened at $164.97 on Friday. 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 firm’s fifty day moving average price is $168.19 and its two-hundred day moving average price is $155.84. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. Crane has a 1-year low of $106.89 and a 1-year high of $188.52.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.06. The business had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. On average, equities research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Friday, November 29th. Crane’s payout ratio is currently 18.06%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus downgraded shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased 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 analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

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.