Gabelli Funds LLC Has $120.74 Million Stake in Crane (NYSE:CR)

Gabelli Funds LLC reduced its holdings in Crane (NYSE:CR) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 832,820 shares of the conglomerate’s stock after selling 12,950 shares during the period. Crane makes up about 0.9% of Gabelli Funds LLC’s investment portfolio, making the stock its 15th biggest position. Gabelli Funds LLC owned approximately 1.46% of Crane worth $120,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its holdings in Crane by 4.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 193,053 shares of the conglomerate’s stock worth $26,087,000 after buying an additional 7,945 shares during the last quarter. Castleark Management LLC boosted its stake in Crane by 13.7% during the 1st quarter. Castleark Management LLC now owns 33,360 shares of the conglomerate’s stock worth $4,508,000 after acquiring an additional 4,020 shares during the last quarter. Morningstar Investment Services LLC grew its holdings in Crane by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 126,031 shares of the conglomerate’s stock valued at $14,913,000 after purchasing an additional 62,613 shares during the period. HighPoint Advisor Group LLC bought a new stake in Crane in the fourth quarter valued at approximately $951,000. Finally, Russell Investments Group Ltd. raised its holdings in Crane by 70.1% in the first quarter. Russell Investments Group Ltd. now owns 75,410 shares of the conglomerate’s stock worth $10,190,000 after purchasing an additional 31,069 shares during the period. 75.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Crane from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price target on Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Bank of America increased their target price on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.00.

Crane Price Performance

Shares of CR opened at $152.43 on Friday. The company has a 50 day moving average of $151.27 and a 200-day moving average of $144.01. 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 has a market capitalization of $8.71 billion, a P/E ratio of 40.87, a P/E/G ratio of 1.93 and a beta of 0.77. Crane has a twelve month low of $82.57 and a twelve month high of $162.34.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $568.33 million. During the same period in the previous year, the firm posted $1.10 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities research analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were paid a $0.205 dividend. 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 0.54%. Crane’s dividend payout ratio 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.