Edgestream Partners L.P. Acquires New Stake in Crane (NYSE:CR)

Edgestream Partners L.P. acquired a new stake in shares of Crane (NYSE:CR) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,979 shares of the conglomerate’s stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CR. Capital International Investors increased its position in Crane by 103.3% during the 1st quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock valued at $182,216,000 after buying an additional 685,230 shares in the last quarter. Norges Bank bought a new position in Crane during the 4th quarter valued at approximately $59,659,000. Hantz Financial Services Inc. bought a new position in Crane during the 2nd quarter valued at approximately $16,205,000. Axiom Investors LLC DE increased its position in Crane by 313.3% during the 4th quarter. Axiom Investors LLC DE now owns 145,432 shares of the conglomerate’s stock valued at $17,181,000 after buying an additional 110,247 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Crane by 13.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 727,846 shares of the conglomerate’s stock valued at $98,354,000 after buying an additional 83,938 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Crane Stock Performance

Shares of CR opened at $152.52 on Tuesday. 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 has a one year low of $82.57 and a one year high of $162.34. The firm has a market capitalization of $8.72 billion, a P/E ratio of 40.89, a PEG ratio of 1.93 and a beta of 0.77. The business has a fifty day moving average of $151.27 and a 200 day moving average of $144.27.

Crane (NYSE:CR) last issued its quarterly earnings data 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 return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. Crane’s revenue was up 14.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 30th. Crane’s dividend payout ratio is presently 21.98%.

Analysts Set New Price Targets

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

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.