Canandaigua National Bank & Trust Co. Decreases Stock Holdings in Crane (NYSE:CR)

Canandaigua National Bank & Trust Co. decreased its holdings in shares of Crane (NYSE:CR) by 46.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627 shares of the conglomerate’s stock after selling 1,432 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Crane were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. TD Asset Management Inc lifted its holdings in Crane by 17.8% in the 4th quarter. TD Asset Management Inc now owns 17,194 shares of the conglomerate’s stock valued at $2,031,000 after purchasing an additional 2,594 shares in the last quarter. Barometer Capital Management Inc. acquired a new stake in shares of Crane in the 4th quarter worth $1,855,000. Covenant Partners LLC increased its stake in shares of Crane by 20.4% in the 4th quarter. Covenant Partners LLC now owns 3,456 shares of the conglomerate’s stock worth $408,000 after acquiring an additional 585 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Crane in the 4th quarter worth $237,000. Finally, Congress Asset Management Co. MA increased its stake in shares of Crane by 0.5% in the 4th quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock worth $156,282,000 after acquiring an additional 6,605 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

CR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus lifted their target price on Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.17.

Crane Trading Up 1.9 %

CR opened at $159.17 on Friday. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Crane has a 52 week low of $82.57 and a 52 week high of $162.34. The business’s 50 day moving average is $151.89 and its two-hundred day moving average is $145.89. 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 released its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $581.00 million for the quarter, compared to analyst estimates of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. On average, research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, August 30th. 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.