Janus Henderson Group PLC Acquires 1,767 Shares of Crane (NYSE:CR)

Janus Henderson Group PLC boosted its holdings in Crane (NYSE:CR) by 6.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,918 shares of the conglomerate’s stock after purchasing an additional 1,767 shares during the period. Janus Henderson Group PLC’s holdings in Crane were worth $4,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Paloma Partners Management Co bought a new position in Crane during the third quarter worth $293,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Crane during the 3rd quarter worth about $518,000. Verition Fund Management LLC raised its position in shares of Crane by 11.1% during the third quarter. Verition Fund Management LLC now owns 8,037 shares of the conglomerate’s stock valued at $1,272,000 after buying an additional 806 shares during the last quarter. Walleye Capital LLC lifted its stake in shares of Crane by 67.2% in the third quarter. Walleye Capital LLC now owns 93,535 shares of the conglomerate’s stock valued at $14,805,000 after buying an additional 37,581 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Crane by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,902 shares of the conglomerate’s stock worth $1,726,000 after buying an additional 210 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on CR. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised their target price on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Crane Price Performance

Crane stock opened at $169.36 on Wednesday. The business has a 50 day simple moving average of $167.61 and a 200 day simple moving average of $155.54. 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 company has a market capitalization of $9.69 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. Crane has a one year low of $106.33 and a one year high of $188.52.

Crane (NYSE:CR) last issued its earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating the consensus estimate of $1.32 by $0.06. The company had revenue of $597.20 million for the quarter, compared to the consensus estimate of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, sell-side analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio (DPR) is currently 18.06%.

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.