Mount Yale Investment Advisors LLC Decreases Holdings in Crane (NYSE:CR)

Mount Yale Investment Advisors LLC reduced its position in Crane (NYSE:CR) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,279 shares of the conglomerate’s stock after selling 409 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Crane were worth $1,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC grew its holdings in Crane by 4.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 193,053 shares of the conglomerate’s stock valued at $26,087,000 after purchasing an additional 7,945 shares during the last quarter. Castleark Management LLC raised its position in Crane by 13.7% during the first quarter. Castleark Management LLC now owns 33,360 shares of the conglomerate’s stock worth $4,508,000 after acquiring an additional 4,020 shares during the last quarter. Morningstar Investment Services LLC lifted its holdings in shares of Crane by 98.7% in the fourth quarter. Morningstar Investment Services LLC now owns 126,031 shares of the conglomerate’s stock valued at $14,913,000 after purchasing an additional 62,613 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Crane in the fourth quarter valued at approximately $951,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Crane by 70.1% during the 1st quarter. Russell Investments Group Ltd. now owns 75,410 shares of the conglomerate’s stock worth $10,190,000 after purchasing an additional 31,069 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CR has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Crane from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America boosted 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. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Crane presently has an average rating of “Moderate Buy” and a consensus target price of $155.00.

Crane Price Performance

Shares of NYSE:CR opened at $152.43 on Monday. The company has a market cap of $8.71 billion, a P/E ratio of 40.87, a P/E/G ratio of 1.93 and a beta of 0.77. The business has a fifty day simple moving average of $151.27 and a 200-day simple moving average of $144.14. Crane has a 52 week low of $82.57 and a 52 week high of $162.34. 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 posted its quarterly earnings results 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 return on equity of 24.45% and a net margin of 13.10%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS. Equities research analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 30th. Crane’s dividend payout ratio is currently 21.98%.

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.