Crane (NYSE:CR) Short Interest Update

Crane (NYSE:CR) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 627,100 shares, an increase of 31.8% from the January 31st total of 475,800 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 262,900 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CR shares. StockNews.com downgraded shares of Crane from a “buy” rating to a “hold” rating in a report on Tuesday. DA Davidson increased their price objective on shares of Crane from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. UBS Group boosted their target price on Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Finally, Stifel Nicolaus decreased their price target on Crane from $176.00 to $170.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Crane currently has an average rating of “Moderate Buy” and an average target price of $174.80.

Crane Price Performance

Shares of NYSE:CR opened at $154.67 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a market capitalization of $8.88 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.93 and a beta of 1.30. The stock has a fifty day moving average of $161.94 and a 200-day moving average of $161.67. Crane has a one year low of $124.30 and a one year high of $188.52.

Crane (NYSE:CR) last released its earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same period in the prior year, the company earned $0.90 EPS. As a group, equities analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Crane’s previous quarterly dividend of $0.21. Crane’s dividend payout ratio (DPR) is 18.18%.

Insider Buying and Selling

In related news, VP Alejandro Alcala sold 2,293 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $170.96, for a total value of $392,011.28. Following the completion of the transaction, the vice president now directly owns 32,963 shares of the company’s stock, valued at $5,635,354.48. This represents a 6.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crane

Several hedge funds have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd purchased a new stake in shares of Crane in the third quarter worth approximately $515,000. Citigroup Inc. lifted its position in Crane by 328.3% in the 3rd quarter. Citigroup Inc. now owns 23,790 shares of the conglomerate’s stock worth $3,765,000 after buying an additional 18,236 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Crane by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,191 shares of the conglomerate’s stock valued at $20,515,000 after buying an additional 2,953 shares during the period. Twelve Points Wealth Management LLC grew its holdings in shares of Crane by 50.5% during the 4th quarter. Twelve Points Wealth Management LLC now owns 9,535 shares of the conglomerate’s stock valued at $1,447,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Crane by 1.2% during the 4th quarter. Principal Financial Group Inc. now owns 446,500 shares of the conglomerate’s stock valued at $67,758,000 after acquiring an additional 5,250 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

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.