Pitcairn Co. Sells 646 Shares of Crane (NYSE:CR)

Pitcairn Co. lessened its holdings in shares of Crane (NYSE:CR) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,249 shares of the conglomerate’s stock after selling 646 shares during the quarter. Pitcairn Co.’s holdings in Crane were worth $989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CR. Select Equity Group L.P. bought a new position in Crane in the second quarter worth $21,159,000. Hantz Financial Services Inc. bought a new position in Crane in the second quarter worth $16,205,000. Massachusetts Financial Services Co. MA raised its holdings in Crane by 16.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock worth $103,748,000 after purchasing an additional 91,029 shares in the last quarter. American Century Companies Inc. raised its holdings in Crane by 673.2% in the second quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock worth $11,913,000 after purchasing an additional 71,544 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Crane by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock worth $111,882,000 after purchasing an additional 70,297 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Crane Price Performance

Shares of NYSE:CR opened at $184.36 on Monday. Crane has a 1-year low of $102.80 and a 1-year high of $185.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The business has a fifty day moving average price of $161.99 and a 200-day moving average price of $152.76. The company has a market capitalization of $10.55 billion, a PE ratio of 40.61, a PEG ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last released its quarterly earnings data 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 return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. During the same period last year, the firm posted $1.03 earnings per share. Crane’s revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given 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 0.44%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CR shares. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Crane 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.