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Principal Securities Inc. makes new investment in Crane (NYSE:CR)

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Principal Securities Inc. acquired a new position in shares of Crane (NYSE:CR – Free Report) in the fourth quarter, the company said in its latest filing with the Securities and Exchange Commission. The institutional investor acquired 3,996 shares of the conglomerate, worth approximately $472,000.

Several other major investors have also recently bought and sold shares of CR. Fifth Third Bancorp increased its stake in shares of Crane by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 99 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Crane by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,926 shares of the conglomerate’s stock valued at $936,000 after purchasing an additional 99 shares during the period. Retirement Systems of Alabama increased its position in shares of Crane by 0.4% in the fourth quarter. Alabama-based Retirement Systems now owns 61,179 shares of the conglomerate’s stock valued at $7,228,000 after purchasing an additional 216 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Crane by 0.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 66,664 shares of the conglomerate’s stock valued at $7,876,000 after purchasing an additional 620 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Crane’s stock worth $90,000 in the fourth quarter. Institutional investors and hedge funds own 75.14% of the company’s shares.

Analysts set new price targets

A number of analysts recently commented on the stock. DA Davidson raised their price objective on shares of Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 24. Stifel Nicolaus raised their price objective on shares of Crane from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, April 24. Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Bank of America raised their price objective on shares of Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, March 5. Finally, StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday, April 27th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.00.

Check out our latest analysis of Crane

Crane price performance

CR shares opened at $145.44 on Wednesday. The stock has a 50-day moving average of $136.19 and a two-hundred-day moving average of $121.44. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 38.99, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a one-year low of $71.33 and a one-year high of $146.68.

Crane (NYSE:CR – Get Free Report) last reported its quarterly earnings data on Monday, April 22. The conglomerate reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The company had revenue of $565.30 million during the quarter, compared to analyst expectations of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s revenue for the quarter increased 10.0% compared to the same quarter last year. In the same quarter last year, the company earned $1.25 in earnings per share. Stock analysts predict that Crane will post earnings per share of 7.87 for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12. Shareholders of record on Friday, May 31 will receive a dividend of $0.205. This represents a dividend of $0.82 annually and a dividend yield of 0.56%. The ex-dividend date is Friday, May 31. Crane’s payout ratio is 21.98%.

Crane company profile

(Free report)

Crane Company, together with its subsidiaries, manufactures and sells technical 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.

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Quarterly Institutional Ownership for Crane (NYSE:CR)



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