Bleakley Financial Group LLC Acquires 71 Shares of Crane (NYSE:CR)

Bleakley Financial Group LLC raised its stake in shares of Crane (NYSE:CR) by 5.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,455 shares of the conglomerate’s stock after buying an additional 71 shares during the quarter. Bleakley Financial Group LLC’s holdings in Crane were worth $221,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Crane during the third quarter valued at approximately $17,062,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Crane by 16.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock worth $103,748,000 after purchasing an additional 91,029 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of Crane by 67.2% during the 3rd quarter. Walleye Capital LLC now owns 93,535 shares of the conglomerate’s stock valued at $14,805,000 after buying an additional 37,581 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Crane in the third quarter worth approximately $4,459,000. Finally, Citigroup Inc. grew its position in Crane by 328.3% during the third quarter. Citigroup Inc. now owns 23,790 shares of the conglomerate’s stock valued at $3,765,000 after acquiring an additional 18,236 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Crane Stock Performance

Crane stock opened at $169.99 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 stock’s 50 day moving average is $161.37 and its 200 day moving average is $159.99. Crane has a twelve month low of $118.48 and a twelve month high of $188.52. The company has a market capitalization of $9.73 billion, a P/E ratio of 22.52, a PEG ratio of 1.93 and a beta of 1.24.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same quarter last year, the company posted $0.90 earnings per share. On average, equities research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 28th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, February 28th. This is a boost from Crane’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 0.54%. Crane’s dividend payout ratio (DPR) is 18.18%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CR shares. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. DA Davidson raised their target price on shares of Crane from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. UBS Group raised their price target on shares of Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Finally, Stifel Nicolaus reduced their price target on Crane from $176.00 to $170.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Crane has a consensus rating of “Moderate Buy” and a consensus price target of $174.80.

Insiders Place Their Bets

In related news, VP Alejandro Alcala sold 2,293 shares of Crane stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $170.96, for a total value of $392,011.28. Following the completion of the sale, the vice president now owns 32,963 shares of the company’s stock, valued at $5,635,354.48. The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is owned by insiders.

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.