Wallace Advisory Group LLC Trims Holdings in Crane (NYSE:CR)

Wallace Advisory Group LLC lowered its stake in shares of Crane (NYSE:CR) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,955 shares of the conglomerate’s stock after selling 168 shares during the quarter. Wallace Advisory Group LLC’s holdings in Crane were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

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

Crane Stock Up 0.6 %

CR stock opened at $158.35 on Tuesday. The stock has a market cap of $9.05 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The firm’s 50-day simple moving average is $151.80 and its 200 day simple moving average is $145.25. Crane has a fifty-two week low of $82.57 and a fifty-two 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 announced 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 for the quarter, compared to analyst estimates of $568.33 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 earnings per share. As a group, sell-side analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were paid a $0.205 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. Crane’s payout ratio is 21.98%.

Analyst Upgrades and Downgrades

CR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Crane currently has an average rating of “Moderate Buy” and an average price target of $155.00.

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.