Coldstream Capital Management Inc. Acquires Shares of 2,908 Crane (NYSE:CR)

Coldstream Capital Management Inc. acquired a new stake in Crane (NYSE:CR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,908 shares of the conglomerate’s stock, valued at approximately $344,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MGO One Seven LLC acquired a new stake in shares of Crane during the 3rd quarter worth approximately $490,000. Jump Financial LLC acquired a new stake in shares of Crane during the 3rd quarter worth approximately $201,000. Chartwell Investment Partners LLC grew its position in shares of Crane by 35.5% during the 3rd quarter. Chartwell Investment Partners LLC now owns 9,846 shares of the conglomerate’s stock worth $875,000 after buying an additional 2,579 shares during the period. Atria Wealth Solutions Inc. grew its position in shares of Crane by 107.6% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 7,213 shares of the conglomerate’s stock worth $641,000 after buying an additional 3,738 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in shares of Crane during the 3rd quarter worth approximately $679,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CR. Stifel Nicolaus reissued a “buy” rating and set a $157.00 price objective on shares of Crane in a research note on Wednesday, May 15th. DA Davidson lifted their price objective on shares of Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group lifted their price objective on shares of Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Saturday, April 27th. Finally, Bank of America increased their target price on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.50.

Crane Stock Performance

NYSE CR traded up $0.92 on Friday, hitting $147.07. 175,937 shares of the stock were exchanged, compared to its average volume of 237,694. The company has a market capitalization of $8.41 billion, a PE ratio of 39.39, a P/E/G ratio of 1.93 and a beta of 1.49. The business’s fifty day moving average is $138.91 and its 200 day moving average is $123.83. Crane has a 52 week low of $72.29 and a 52 week high of $150.01. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The company had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. Research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, May 31st. Crane’s dividend payout ratio is 21.98%.

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.