Victory Capital Management Inc. Trims Stock Position in Crane (NYSE:CR)

Victory Capital Management Inc. lowered its stake in Crane (NYSE:CR) by 95.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,472 shares of the conglomerate’s stock after selling 220,415 shares during the quarter. Victory Capital Management Inc.’s holdings in Crane were worth $1,658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Matrix Trust Co purchased a new position in Crane during the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in Crane during the third quarter valued at $28,000. ORG Wealth Partners LLC purchased a new position in shares of Crane in the 3rd quarter worth $30,000. ORG Partners LLC bought a new position in shares of Crane in the 2nd quarter valued at about $31,000. Finally, UMB Bank n.a. grew its position in Crane by 81.8% in the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 99 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Crane Price Performance

Crane stock opened at $184.80 on Tuesday. 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 stock has a market cap of $10.58 billion, a price-to-earnings ratio of 40.70, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The firm has a 50-day moving average of $162.63 and a two-hundred day moving average of $153.05. Crane has a 1 year low of $102.80 and a 1 year high of $188.52.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. The firm 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 quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s payout ratio is 18.06%.

Analyst Ratings Changes

A number of research analysts have weighed in on CR shares. Stifel Nicolaus cut shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective on the stock. in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.