American International Group Inc. Sells 2,809 Shares of Crane (NYSE:CR)

American International Group Inc. decreased its holdings in shares of Crane (NYSE:CR) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,974 shares of the conglomerate’s stock after selling 2,809 shares during the period. American International Group Inc. owned about 0.12% of Crane worth $7,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CR. Fifth Third Bancorp grew its position in shares of Crane by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 99 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Crane during the 4th quarter valued at $90,000. Claret Asset Management Corp bought a new stake in shares of Crane during the 4th quarter valued at $201,000. Raymond James Trust N.A. bought a new stake in shares of Crane during the 4th quarter valued at $203,000. Finally, DAVENPORT & Co LLC bought a new stake in shares of Crane during the 4th quarter valued at $207,000. Institutional investors own 75.14% of the company’s stock.

Crane Stock Performance

Crane stock opened at $143.47 on Thursday. The company’s 50-day moving average price is $142.29 and its 200-day moving average price is $128.91. Crane has a twelve month low of $78.83 and a twelve month high of $150.01. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.20 billion, a PE ratio of 38.46, a price-to-earnings-growth ratio of 1.93 and a beta of 0.87.

Crane (NYSE:CR) last posted its earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. During the same period in the previous year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, May 31st. Crane’s dividend payout ratio (DPR) is currently 21.98%.

Analysts Set New Price Targets

CR has been the subject of a number of recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $157.00 price objective on shares of Crane in a research report on Wednesday, May 15th. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. Bank of America lifted their target price on shares of Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. DA Davidson lifted their target price on shares of Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, UBS Group lifted their target price on shares of Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and an average price target of $143.67.

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.