Sumitomo Mitsui Trust Group Inc. Takes $211,000 Position in Crane (NYSE:CR)

Sumitomo Mitsui Trust Group Inc. acquired a new stake in Crane (NYSE:CR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,330 shares of the conglomerate’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Griffin Asset Management Inc. lifted its stake in shares of Crane by 0.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 34,038 shares of the conglomerate’s stock worth $5,388,000 after acquiring an additional 90 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Crane by 2.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock worth $529,000 after acquiring an additional 94 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Crane by 81.8% during the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 99 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Crane by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock worth $1,176,000 after acquiring an additional 104 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Crane by 29.9% during the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after acquiring an additional 112 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CR has been the subject of a number of research analyst reports. Stifel Nicolaus lowered Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Crane Trading Up 0.4 %

Shares of NYSE CR opened at $179.14 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $160.69 and a two-hundred day simple moving average of $152.16. The firm has a market cap of $10.25 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. Crane has a twelve month low of $102.80 and a twelve month high of $180.87.

Crane (NYSE:CR) last issued its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. The business had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. Analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be issued a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.46%. Crane’s dividend payout ratio is presently 18.06%.

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.