1,557 Shares in Crane (NYSE:CR) Purchased by InTrack Investment Management Inc

InTrack Investment Management Inc purchased a new stake in Crane (NYSE:CR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,557 shares of the conglomerate’s stock, valued at approximately $210,000.

Other institutional investors have also recently made changes to their positions in the company. State of Michigan Retirement System lifted its stake in Crane by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 11,972 shares of the conglomerate’s stock valued at $1,618,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Crane by 9.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,759 shares of the conglomerate’s stock worth $8,886,000 after acquiring an additional 5,759 shares during the period. Financial Enhancement Group LLC increased its holdings in shares of Crane by 1.1% during the 1st quarter. Financial Enhancement Group LLC now owns 11,920 shares of the conglomerate’s stock worth $1,607,000 after acquiring an additional 135 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Crane by 26.2% during the 1st quarter. Park Avenue Securities LLC now owns 4,213 shares of the conglomerate’s stock valued at $569,000 after purchasing an additional 874 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in Crane during the fourth quarter worth $951,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Performance

NYSE:CR opened at $142.89 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $150.01. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 1.93 and a beta of 0.87. The stock has a fifty day moving average price of $144.38 and a 200-day moving average price of $131.42.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $565.30 million for 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%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

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

Analyst Ratings Changes

CR has been the topic of several research analyst reports. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Stifel Nicolaus restated a “buy” rating and set a $157.00 price objective on shares of Crane in a research report on Wednesday, May 15th. DA Davidson upped their target price on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Bank of America boosted their price target on Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a research report on Saturday, April 27th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crane currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.67.

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.