Independent Advisor Alliance Has $778,000 Stake in Crane (NYSE:CR)

Independent Advisor Alliance decreased its stake in shares of Crane (NYSE:CR) by 2.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,916 shares of the conglomerate’s stock after selling 121 shares during the period. Independent Advisor Alliance’s holdings in Crane were worth $778,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CR. Matrix Trust Co acquired a new position in shares of Crane during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new position in shares of Crane during the 3rd quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new position in shares of Crane during the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new position in shares of Crane during the 2nd quarter valued at about $31,000. Finally, UMB Bank n.a. increased its holdings in shares of Crane by 81.8% during 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 during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Price Performance

Shares of NYSE:CR opened at $181.72 on Thursday. The business’s 50 day moving average is $163.28 and its 200-day moving average is $153.34. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $10.40 billion, a PE ratio of 40.03, a PEG ratio of 1.93 and a beta of 0.81. Crane has a 1-year low of $102.80 and a 1-year high of $188.52.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $597.20 million for the quarter, compared to the consensus estimate of $594.45 million. During the same quarter in the previous year, the company earned $1.03 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Crane will post 7.87 earnings per share 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 given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CR. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 target price for the company. in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased their target price on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Crane Company 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.