JPMorgan Chase & Co. Acquires 510 Shares of Crane (NYSE:CR)

JPMorgan Chase & Co. increased its holdings in shares of Crane (NYSE:CR) by 0.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,577 shares of the conglomerate’s stock after purchasing an additional 510 shares during the quarter. JPMorgan Chase & Co. owned 0.22% of Crane worth $20,351,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CR. Matrix Trust Co bought a new position in shares of Crane in the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in Crane in the third quarter valued at $28,000. ORG Wealth Partners LLC bought a new position in shares of Crane in the 3rd quarter valued at about $30,000. UMB Bank n.a. increased 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 purchasing an additional 99 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Crane in the 3rd quarter valued at about $37,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CR. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a research report on Monday, November 18th. UBS Group raised their price target on Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective 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 given a buy rating to the stock. According to data from MarketBeat.com, Crane has a consensus rating of “Moderate Buy” and a consensus price target of $168.00.

Crane Stock Up 0.8 %

Crane stock opened at $153.60 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $167.32 and its two-hundred day moving average price is $157.19. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. Crane has a 1-year low of $110.49 and a 1-year high of $188.52.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $594.45 million. During the same period last year, the business earned $1.03 EPS. The business’s revenue was up 12.7% on a year-over-year basis. On average, equities research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were given a dividend of $0.205 per share. The ex-dividend date was Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.53%. Crane’s dividend payout ratio is presently 18.06%.

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.