Sei Investments Co. cut its stake in shares of Crane (NYSE:CR – Free Report) by 15.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,656 shares of the conglomerate’s stock after selling 7,187 shares during the period. Sei Investments Co. owned about 0.07% of Crane worth $6,611,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its position in Crane by 27.4% in the first quarter. Royal Bank of Canada now owns 22,060 shares of the conglomerate’s stock valued at $3,379,000 after purchasing an additional 4,749 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Crane by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 440,817 shares of the conglomerate’s stock worth $67,524,000 after purchasing an additional 84,278 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Crane by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,776 shares of the conglomerate’s stock valued at $20,951,000 after buying an additional 4,217 shares during the period. Focus Partners Wealth increased its stake in shares of Crane by 17.0% in the first quarter. Focus Partners Wealth now owns 1,696 shares of the conglomerate’s stock valued at $257,000 after buying an additional 246 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in Crane in the 2nd quarter valued at approximately $207,000. Institutional investors and hedge funds own 75.14% of the company’s stock.
Crane Stock Up 2.8%
Shares of NYSE CR opened at $219.43 on Tuesday. The company’s 50 day moving average price is $209.70 and its 200-day moving average price is $194.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 52-week low of $159.58 and a 52-week high of $230.50. The company has a market capitalization of $12.67 billion, a P/E ratio of 29.06, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.
Crane Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 31st will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.02 annualized dividend and a dividend yield of 0.5%. Crane’s dividend payout ratio (DPR) is 17.83%.
Wall Street Analysts Forecast Growth
CR has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane in a research report on Friday. Wall Street Zen downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Stifel Nicolaus lifted their price target on shares of Crane from $215.00 to $242.00 and gave the stock a “buy” rating in a report on Monday, July 20th. DA Davidson boosted their price objective on shares of Crane from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets began coverage on Crane in a report on Monday, July 20th. They issued an “outperform” rating and a $253.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Crane has an average rating of “Buy” and a consensus target price of $236.33.
Get Our Latest Research Report on CR
Crane Company Profile
Crane Co, headquartered in Stamford, Connecticut, is a diversified manufacturer of engineered industrial products serving customers around the world. The company operates through two primary segments: Aerospace & Electronics and Engineered Materials. Its Aerospace & Electronics division designs and produces valves, fittings, manifolds, and filtration systems for aircraft fuel, hydraulics, and environmental control systems. The Engineered Materials segment focuses on advanced polymers, heat exchangers, and specialized composite solutions for industries including chemical processing, semiconductor manufacturing, and power generation.
With roots dating back to its founding in 1855 in Chicago by R.T.
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