Creative Planning Decreases Stock Holdings in Crane (NYSE:CR)

Creative Planning reduced its stake in shares of Crane (NYSE:CR) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,736 shares of the conglomerate’s stock after selling 216 shares during the quarter. Creative Planning’s holdings in Crane were worth $1,846,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CR. Barometer Capital Management Inc. purchased a new position in Crane during the 4th quarter valued at $1,855,000. Covenant Partners LLC increased its stake in shares of Crane by 20.4% in the 4th quarter. Covenant Partners LLC now owns 3,456 shares of the conglomerate’s stock worth $408,000 after acquiring an additional 585 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Crane in the 4th quarter worth about $237,000. Congress Asset Management Co. MA increased its stake in shares of Crane by 0.5% in the 4th quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock worth $156,282,000 after acquiring an additional 6,605 shares in the last quarter. Finally, SageView Advisory Group LLC bought a new position in shares of Crane in the 4th quarter worth about $443,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CR has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus boosted 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and a consensus target price of $156.17.

Crane Price Performance

Shares of CR opened at $157.94 on Tuesday. The firm has a market cap of $9.03 billion, a PE ratio of 42.34, a P/E/G ratio of 1.93 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $151.85 and a two-hundred day simple moving average of $146.14. Crane has a 1-year low of $82.57 and a 1-year high of $162.34.

Crane (NYSE:CR) last posted 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. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. On average, equities analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, August 30th. Crane’s dividend payout ratio is currently 21.98%.

About Crane

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.