Algert Global LLC Has $2.50 Million Stock Position in Crane (NYSE:CR)

Algert Global LLC boosted its stake in shares of Crane (NYSE:CR) by 20.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,249 shares of the conglomerate’s stock after purchasing an additional 2,921 shares during the period. Algert Global LLC’s holdings in Crane were worth $2,501,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Covestor Ltd increased its stake in shares of Crane by 150.6% during the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 131 shares during the last quarter. ORG Partners LLC bought a new stake in Crane in the second quarter valued at approximately $31,000. Blue Trust Inc. lifted its position in shares of Crane by 29.9% in the second quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock valued at $66,000 after buying an additional 112 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Crane during the 2nd quarter worth approximately $123,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Crane during the 2nd quarter worth approximately $159,000. 75.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised their price target on 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 target price on shares of Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.00.

Crane Stock Performance

Shares of NYSE CR opened at $155.09 on Wednesday. Crane has a one year low of $82.57 and a one year 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 firm has a market cap of $8.86 billion, a price-to-earnings ratio of 41.58, a P/E/G ratio of 1.93 and a beta of 0.77. The stock’s fifty day moving average price is $151.77 and its two-hundred day moving average price is $145.43.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, beating 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 business had revenue of $581.00 million for the quarter, compared to the consensus estimate of $568.33 million. During the same period in the prior year, the company posted $1.10 earnings per share. Crane’s revenue was up 14.0% compared to the same quarter last year. On average, equities analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were given a $0.205 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.53%. Crane’s 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.