Mutual of America Capital Management LLC Grows Stake in Crane (NYSE:CR)

Mutual of America Capital Management LLC boosted its holdings in shares of Crane (NYSE:CR) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,852 shares of the conglomerate’s stock after acquiring an additional 4,054 shares during the period. Mutual of America Capital Management LLC owned 0.12% of Crane worth $10,127,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Covestor Ltd lifted its holdings in shares of Crane by 150.6% in the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 131 shares during the last quarter. ORG Partners LLC acquired a new stake in Crane during the 2nd quarter worth approximately $31,000. Blue Trust Inc. lifted its holdings in Crane by 29.9% during the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after buying an additional 112 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Crane during the 2nd quarter worth approximately $123,000. Finally, Simplicity Wealth LLC acquired a new stake in Crane during the 2nd quarter worth approximately $201,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

CR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Crane from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price objective on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Bank of America increased their price objective on shares of Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

Crane Stock Performance

Shares of NYSE CR opened at $154.62 on Thursday. The company has a market cap of $8.84 billion, a PE ratio of 41.45, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Crane has a 12 month low of $82.57 and a 12 month high of $162.34. 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 company has a 50-day simple moving average of $150.75 and a 200-day simple moving average of $143.53.

Crane (NYSE:CR) last released its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $581.00 million during the quarter, compared to the consensus estimate of $568.33 million. During the same period in the previous year, the firm earned $1.10 earnings per share. Crane’s revenue was up 14.0% compared to the same quarter last year. On average, equities analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a yield of 0.53%. Crane’s dividend payout ratio (DPR) is 21.98%.

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.