Oppenheimer Asset Management Inc. Sells 1,672 Shares of Crane (NYSE:CR)

Oppenheimer Asset Management Inc. cut its holdings in Crane (NYSE:CR) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,112 shares of the conglomerate’s stock after selling 1,672 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Crane were worth $2,141,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CR. Bleakley Financial Group LLC raised its position in shares of Crane by 5.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,455 shares of the conglomerate’s stock valued at $221,000 after purchasing an additional 71 shares during the period. Stonegate Investment Group LLC raised its position in shares of Crane by 5.3% during the 4th quarter. Stonegate Investment Group LLC now owns 1,439 shares of the conglomerate’s stock valued at $218,000 after purchasing an additional 72 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Crane by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,975 shares of the conglomerate’s stock valued at $2,845,000 after purchasing an additional 85 shares during the period. M&T Bank Corp raised its position in shares of Crane by 1.2% during the 3rd quarter. M&T Bank Corp now owns 7,336 shares of the conglomerate’s stock valued at $1,161,000 after purchasing an additional 86 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Crane by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 1,741 shares of the conglomerate’s stock valued at $264,000 after purchasing an additional 90 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Alejandro Alcala sold 2,293 shares of Crane stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction 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 approximately $5,635,354.48. The trade was a 6.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Crane Stock Performance

Shares of NYSE:CR opened at $162.95 on Monday. Crane has a 52 week low of $121.07 and a 52 week high of $188.52. The stock has a market capitalization of $9.33 billion, a P/E ratio of 21.58, a PEG ratio of 1.93 and a beta of 1.25. The firm has a fifty day simple moving average of $161.94 and a two-hundred day simple moving average of $161.61. 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 (NYSE:CR) last issued its quarterly earnings data on Monday, January 27th. The conglomerate reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $0.90 earnings per share. On average, analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th will be paid a $0.23 dividend. This is a boost from Crane’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, February 28th. Crane’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CR. StockNews.com downgraded shares of Crane from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. UBS Group lifted their price target on shares of Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Stifel Nicolaus reduced their price target on shares of Crane from $176.00 to $170.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, DA Davidson lifted their price target on shares of Crane from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.80.

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.