Advisors Asset Management Inc. Sells 953 Shares of Crane (NYSE:CR)

Advisors Asset Management Inc. reduced its holdings in shares of Crane (NYSE:CR) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,057 shares of the conglomerate’s stock after selling 953 shares during the period. Advisors Asset Management Inc.’s holdings in Crane were worth $2,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Matrix Trust Co acquired a new position in Crane during the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Crane during the 3rd quarter worth about $28,000. Covestor Ltd boosted its position in Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after buying an additional 131 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Crane in the third quarter valued at about $30,000. Finally, ORG Partners LLC bought a new stake in Crane during the second quarter worth about $31,000. Institutional investors own 75.14% of the company’s stock.

Crane Stock Up 0.7 %

NYSE:CR opened at $184.36 on Friday. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 40.61, a P/E/G ratio of 1.93 and a beta of 0.81. 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 stock’s fifty day moving average price is $161.99 and its two-hundred day moving average price is $152.71. Crane has a 52-week low of $102.80 and a 52-week high of $185.55.

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

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 0.44%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio (DPR) is 18.06%.

Wall Street Analysts Forecast Growth

CR has been the topic of several recent analyst reports. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

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.