Bellecapital International Ltd. Reduces Stock Holdings in Crane (NYSE:CR)

Bellecapital International Ltd. lessened its stake in Crane (NYSE:CR) by 41.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,506 shares of the conglomerate’s stock after selling 1,789 shares during the period. Bellecapital International Ltd.’s holdings in Crane were worth $384,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Crane during the fourth quarter worth about $144,961,000. Alliancebernstein L.P. increased its position in shares of Crane by 619.4% in the fourth quarter. Alliancebernstein L.P. now owns 499,656 shares of the conglomerate’s stock valued at $75,823,000 after buying an additional 430,201 shares in the last quarter. Capital World Investors increased its stake in shares of Crane by 16.9% during the 4th quarter. Capital World Investors now owns 2,455,854 shares of the conglomerate’s stock worth $372,676,000 after purchasing an additional 355,765 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in Crane in the 4th quarter valued at about $45,127,000. Finally, Select Equity Group L.P. boosted its holdings in shares of Crane by 25.2% during the fourth quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate’s stock worth $114,445,000 after purchasing an additional 151,717 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

Crane stock opened at $186.58 on Thursday. The firm has a fifty day moving average of $161.52 and a 200-day moving average of $161.66. Crane has a 52-week low of $127.04 and a 52-week high of $191.00. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $10.73 billion, a P/E ratio of 24.71, a PEG ratio of 1.93 and a beta of 1.24.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $557.60 million during the quarter, compared to analysts’ expectations of $546.93 million. During the same period in the prior year, the company earned $1.22 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 0.49%. Crane’s payout ratio is currently 15.94%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CR. Wall Street Zen cut shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. UBS Group set a $215.00 price target on shares of Crane and gave the company a “buy” rating in a report on Tuesday. DA Davidson restated a “buy” rating and set a $200.00 price objective on shares of Crane in a report on Tuesday. Stifel Nicolaus increased their target price on Crane from $144.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Crane from $187.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and an average price target of $197.75.

Insider Activity at Crane

In related news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total transaction of $230,230.00. Following the sale, the senior vice president now owns 9,796 shares of the company’s stock, valued at $1,734,871.60. The trade was a 11.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.12% of the company’s stock.

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.