Crane (NYSE:CR) Shares Acquired by Citigroup Inc.

Citigroup Inc. grew its holdings in Crane (NYSE:CR) by 328.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,790 shares of the conglomerate’s stock after buying an additional 18,236 shares during the quarter. Citigroup Inc.’s holdings in Crane were worth $3,765,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CR. AQR Capital Management LLC raised its holdings in Crane by 11.9% during the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock worth $27,902,000 after purchasing an additional 20,518 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Crane by 70.7% during the second quarter. WINTON GROUP Ltd now owns 123,961 shares of the conglomerate’s stock worth $17,972,000 after purchasing an additional 51,342 shares during the last quarter. Chesapeake Capital Corp IL purchased a new position in Crane during the second quarter worth $509,000. American Century Companies Inc. increased its position in Crane by 673.2% during the second quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock worth $11,913,000 after buying an additional 71,544 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Crane by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 112,797 shares of the conglomerate’s stock worth $16,353,000 after buying an additional 4,355 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Crane Stock Performance

Shares of CR stock opened at $177.88 on Thursday. Crane has a 12-month low of $102.80 and a 12-month high of $188.52. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The business has a 50 day simple moving average of $165.95 and a 200 day simple moving average of $154.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

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

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.46%. Crane’s dividend payout ratio (DPR) is 18.06%.

Crane 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.