Townsquare Capital LLC Has $2.97 Million Stock Position in Crane (NYSE:CR)

Townsquare Capital LLC lessened its position in shares of Crane (NYSE:CR) by 36.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 18,777 shares of the conglomerate’s stock after selling 10,927 shares during the quarter. Townsquare Capital LLC’s holdings in Crane were worth $2,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Griffin Asset Management Inc. boosted its position in shares of Crane by 0.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 34,038 shares of the conglomerate’s stock valued at $5,388,000 after purchasing an additional 90 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Crane by 2.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock worth $529,000 after buying an additional 94 shares during the period. UMB Bank n.a. increased its stake in shares of Crane by 81.8% in the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 99 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Crane by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock worth $1,176,000 after acquiring an additional 104 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Crane by 29.9% in the second quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CR. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Crane Trading Up 0.3 %

Shares of CR stock opened at $182.08 on Friday. 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 company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 1.93 and a beta of 0.81. Crane has a 52-week low of $102.80 and a 52-week high of $188.52. The company has a 50-day simple moving average of $164.36 and a two-hundred day simple moving average of $153.73.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same period last year, the business posted $1.03 earnings per share. Crane’s revenue was up 12.7% on a year-over-year basis. Research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The firm 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 dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s payout ratio is 18.06%.

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.