Cetera Investment Advisers Sells 319 Shares of Crane (NYSE:CR)

Cetera Investment Advisers lessened its stake in Crane (NYSE:CR) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,780 shares of the conglomerate’s stock after selling 319 shares during the quarter. Cetera Investment Advisers’ holdings in Crane were worth $1,273,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Covestor Ltd lifted its holdings in shares of Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after buying an additional 131 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Crane during the second quarter worth about $31,000. Blue Trust Inc. grew its holdings in shares of Crane by 29.9% during the second quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after purchasing an additional 112 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Crane in the second quarter worth approximately $123,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Crane in the second quarter worth approximately $159,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Up 1.4 %

Shares of NYSE CR opened at $161.41 on Thursday. Crane has a one year low of $82.57 and a one year high of $163.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The business’s fifty day moving average price is $153.19 and its 200-day moving average price is $147.21. The stock has a market capitalization of $9.23 billion, a PE ratio of 43.27, a P/E/G ratio of 1.93 and a beta of 0.77.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $581.00 million for 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 quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 EPS. On average, equities research analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.51%. Crane’s dividend payout ratio (DPR) is presently 21.98%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus upped their price target on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.33.

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.