PNC Financial Services Group Inc. Decreases Position in Crane (NYSE:CR)

PNC Financial Services Group Inc. decreased its holdings in Crane (NYSE:CR) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,239 shares of the conglomerate’s stock after selling 148 shares during the period. PNC Financial Services Group Inc.’s holdings in Crane were worth $1,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. HighTower Advisors LLC acquired a new stake in Crane in the third quarter valued at approximately $679,000. Kestra Advisory Services LLC acquired a new stake in shares of Crane in the 3rd quarter valued at $295,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Crane in the 3rd quarter valued at $664,000. Envestnet Asset Management Inc. lifted its position in shares of Crane by 143.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 116,920 shares of the conglomerate’s stock worth $10,387,000 after purchasing an additional 68,795 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Crane by 12.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 225,649 shares of the conglomerate’s stock worth $20,047,000 after purchasing an additional 24,790 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

CR has been the topic of a number of analyst reports. DA Davidson raised their price target on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. UBS Group boosted their price objective on shares of Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $157.00 target price on shares of Crane in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Crane currently has a consensus rating of “Moderate Buy” and an average price target of $143.67.

Crane Price Performance

CR stock opened at $144.67 on Monday. 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 company has a market capitalization of $8.27 billion, a P/E ratio of 38.79, a PEG ratio of 1.93 and a beta of 0.87. The business has a 50 day simple moving average of $142.60 and a 200-day simple moving average of $129.61. Crane has a twelve month low of $79.26 and a twelve month high of $150.01.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, equities analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, May 31st. Crane’s dividend payout ratio is presently 21.98%.

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.