Stonegate Investment Group LLC Makes New $216,000 Investment in Crane (NYSE:CR)

Stonegate Investment Group LLC bought a new stake in Crane (NYSE:CR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,367 shares of the conglomerate’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Matrix Trust Co bought a new position in Crane in the third quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in shares of Crane in the 3rd quarter valued at about $28,000. Covestor Ltd grew its position 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 buying an additional 131 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Crane during the third quarter worth approximately $30,000. Finally, ORG Partners LLC acquired a new position in Crane in the second quarter valued at approximately $31,000. Institutional investors own 75.14% of the company’s stock.

Crane Price Performance

Shares of CR stock opened at $159.79 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a 12-month low of $82.57 and a 12-month high of $163.48. The firm has a fifty day moving average of $153.83 and a 200-day moving average of $147.58. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77.

Crane (NYSE:CR) last posted 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. The firm had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 earnings per share. On average, equities research analysts forecast that Crane will post 7.87 earnings per share for the current 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. This represents a $0.82 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, August 30th. Crane’s payout ratio is currently 21.98%.

Analyst Ratings Changes

CR has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus upped their price objective on Crane from $168.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.33.

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.