Atria Investments Inc Cuts Position in Crane (NYSE:CR)

Atria Investments Inc lowered its stake in Crane (NYSE:CR) by 30.4% during the third quarter, Holdings Channel.com reports. The fund owned 1,553 shares of the conglomerate’s stock after selling 678 shares during the quarter. Atria Investments Inc’s holdings in Crane were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Covestor Ltd grew its stake in Crane by 150.6% during the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 131 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Crane by 7.4% in the 1st quarter. EP Wealth Advisors LLC now owns 2,153 shares of the conglomerate’s stock valued at $291,000 after purchasing an additional 148 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Crane in the 1st quarter valued at $4,418,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Crane by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,169 shares of the conglomerate’s stock valued at $3,402,000 after purchasing an additional 1,546 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in shares of 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 acquiring an additional 7,945 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Performance

Shares of CR stock opened at $184.36 on Friday. Crane has a 1 year low of $102.80 and a 1 year high of $185.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 1.93 and a beta of 0.81. The stock’s 50-day moving average is $161.99 and its two-hundred day moving average is $152.71.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, topping the consensus estimate of $1.32 by $0.06. The company had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.44%. Crane’s dividend payout ratio is presently 18.06%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CR shares. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Crane 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.