First Hawaiian Bank Invests $1.24 Million in Crane (NYSE:CR)

First Hawaiian Bank purchased a new position in Crane (NYSE:CR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,900 shares of the conglomerate’s stock, valued at approximately $1,239,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Money Concepts Capital Corp purchased a new stake in shares of Crane in the fourth quarter worth about $25,000. Allworth Financial LP lifted its holdings in shares of Crane by 769.2% in the first quarter. Allworth Financial LP now owns 226 shares of the conglomerate’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Crane in the first quarter valued at approximately $28,000. Amundi purchased a new stake in Crane in the fourth quarter valued at approximately $32,000. Finally, FNY Investment Advisers LLC purchased a new stake in Crane in the first quarter valued at approximately $35,000. 85.91% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

CR stock opened at $86.90 on Friday. The firm has a market cap of $4.93 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.93 and a beta of 1.49. The firm’s fifty day moving average is $89.66 and its 200 day moving average is $88.35. Crane has a 52 week low of $67.28 and a 52 week high of $95.21. 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 (NYSE:CR) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. The business had revenue of $509.60 million during the quarter, compared to analyst estimates of $524.65 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. Research analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Thursday, August 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Wednesday, August 30th. Crane’s dividend payout ratio (DPR) is presently 9.54%.

Wall Street Analyst Weigh In

CR has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Crane in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. DA Davidson raised their target price on shares of Crane from $92.00 to $107.00 in a research note on Thursday, July 27th. Finally, Stifel Nicolaus raised their target price on shares of Crane from $87.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Crane presently has an average rating of “Moderate Buy” and an average target price of $104.75.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the Americas, Europe, the Middle East, Asia, and Australia. The company has three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials. The Aerospace & Electronics segment supplies critical components and systems, including original equipment and aftermarket parts, primarily for the commercial aerospace, and the military aerospace, defense, and space markets.