Interval Partners LP Boosts Stake in Crane (NYSE:CR)

Interval Partners LP increased its stake in Crane (NYSE:CR) by 44.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,621 shares of the conglomerate’s stock after purchasing an additional 18,889 shares during the quarter. Interval Partners LP owned approximately 0.11% of Crane worth $8,327,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Morningstar Investment Services LLC increased its stake in shares of Crane by 98.7% in the fourth quarter. Morningstar Investment Services LLC now owns 126,031 shares of the conglomerate’s stock worth $14,913,000 after purchasing an additional 62,613 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in Crane during the fourth quarter valued at about $951,000. Russell Investments Group Ltd. raised its holdings in Crane by 70.1% during the first quarter. Russell Investments Group Ltd. now owns 75,410 shares of the conglomerate’s stock valued at $10,190,000 after acquiring an additional 31,069 shares during the period. Congress Asset Management Co. MA lifted its position in shares of Crane by 0.5% in the fourth quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock valued at $156,282,000 after acquiring an additional 6,605 shares in the last quarter. Finally, FORA Capital LLC bought a new position in shares of Crane in the first quarter worth about $911,000. Institutional investors own 75.14% of the company’s stock.

Crane Price Performance

Shares of NYSE CR traded down $7.51 during mid-day trading on Tuesday, hitting $151.61. 637,218 shares of the company’s stock traded hands, compared to its average volume of 239,744. The company has a market capitalization of $8.67 billion, a P/E ratio of 40.65, a PEG ratio of 1.93 and a beta of 0.81. Crane has a 1 year low of $82.57 and a 1 year high of $162.28. 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’s 50-day moving average is $146.69 and its two-hundred day moving average is $136.33.

Crane (NYSE:CR) last issued its quarterly earnings data 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 business had revenue of $581.00 million for the quarter, compared to the consensus estimate of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. On average, equities analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th will be issued a $0.205 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.54%. Crane’s dividend payout ratio (DPR) is presently 21.98%.

Wall Street Analyst Weigh In

CR has been the topic of a number of research analyst reports. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. DA Davidson upped their target price on shares of Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group lifted their price target on shares of Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Bank of America increased their price objective on shares of Crane from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a research report on Saturday, April 27th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.50.

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.