122,957 Shares in Crane (NYSE:CR) Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP purchased a new stake in Crane (NYSE:CR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 122,957 shares of the conglomerate’s stock, valued at approximately $18,835,000. Artemis Investment Management LLP owned 0.21% of Crane at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank lifted its stake in shares of Crane by 487.8% during the 4th quarter. Huntington National Bank now owns 241 shares of the conglomerate’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Crane by 104.8% during the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate’s stock worth $39,000 after acquiring an additional 131 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Crane by 31.4% during the first quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate’s stock worth $87,000 after acquiring an additional 136 shares during the period. Jones Financial Companies Lllp grew its position in shares of Crane by 17.8% in the fourth quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate’s stock valued at $89,000 after purchasing an additional 88 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Crane in the fourth quarter valued at approximately $101,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Crane

In other news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total transaction of $230,230.00. Following the sale, the senior vice president now directly owns 9,796 shares of the company’s stock, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.12% of the company’s stock.

Crane Trading Up 1.6%

Shares of Crane stock opened at $188.15 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a 12-month low of $127.04 and a 12-month high of $191.00. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.93 and a beta of 1.24. The firm’s 50-day moving average price is $170.81 and its two-hundred day moving average price is $161.86.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.10. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $557.60 million for the quarter, compared to analyst estimates of $546.93 million. During the same quarter last year, the business posted $1.22 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

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

Analysts Set New Price Targets

CR has been the subject of several recent research reports. 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 note on Tuesday, June 10th. DA Davidson reissued a “buy” rating and issued a $200.00 target price on shares of Crane in a research report on Tuesday, June 10th. Wall Street Zen lowered 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 objective on shares of Crane and gave the company a “buy” rating in a report on Tuesday, June 10th. Finally, Stifel Nicolaus increased their target price on shares of Crane from $144.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.75.

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.