Resolute Capital Asset Partners LLC Acquires 3,146 Shares of Crane (NYSE:CR)

Resolute Capital Asset Partners LLC boosted its stake in Crane (NYSE:CR) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,146 shares of the conglomerate’s stock after purchasing an additional 3,146 shares during the period. Crane comprises approximately 4.0% of Resolute Capital Asset Partners LLC’s investment portfolio, making the stock its 7th biggest position. Resolute Capital Asset Partners LLC owned approximately 0.08% of Crane worth $6,980,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Covestor Ltd grew its position in shares of Crane by 150.6% during the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after buying an additional 131 shares during the period. ORG Partners LLC purchased a new position in Crane during the 2nd quarter worth $31,000. Blue Trust Inc. boosted its stake in shares of Crane by 29.9% in the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after buying an additional 112 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Crane in the second quarter valued at approximately $123,000. Finally, Simplicity Wealth LLC purchased a new stake in shares of Crane during the 2nd quarter valued at $201,000. 75.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Bank of America lifted their target price on shares of Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.00.

Crane Stock Up 1.3 %

CR stock opened at $154.62 on Thursday. The stock has a 50-day simple moving average of $151.01 and a two-hundred day simple moving average of $143.61. Crane has a twelve month low of $82.57 and a twelve month high of $162.34. The firm has a market capitalization of $8.84 billion, a PE ratio of 41.45, a PEG ratio of 1.93 and a beta of 0.77. 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, July 29th. The conglomerate reported $1.30 EPS for the quarter, beating the consensus estimate of $1.24 by $0.06. The company had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 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 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 earnings per share. On average, equities analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were issued a $0.205 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.53%. Crane’s payout ratio is currently 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.