Cambria Investment Management L.P. Has $6.09 Million Holdings in Crane (NYSE:CR)

Cambria Investment Management L.P. lifted its stake in shares of Crane (NYSE:CR) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,161 shares of the conglomerate’s stock after purchasing an additional 6,391 shares during the period. Cambria Investment Management L.P. owned approximately 0.13% of Crane worth $6,092,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CR. Raymond James Financial Services Advisors Inc. lifted its position in shares of Crane by 8.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,853 shares of the conglomerate’s stock worth $1,608,000 after purchasing an additional 1,104 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Crane by 3.0% during the first quarter. American Century Companies Inc. now owns 10,432 shares of the conglomerate’s stock worth $1,129,000 after buying an additional 299 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Crane by 82.1% during the first quarter. HighTower Advisors LLC now owns 4,102 shares of the conglomerate’s stock worth $445,000 after buying an additional 1,849 shares during the last quarter. Citigroup Inc. raised its stake in shares of Crane by 4.7% during the first quarter. Citigroup Inc. now owns 7,856 shares of the conglomerate’s stock worth $851,000 after buying an additional 355 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Crane by 1.1% during the first quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate’s stock worth $1,408,000 after buying an additional 136 shares during the last quarter. 85.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CR has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Crane from $87.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. StockNews.com started coverage on shares of Crane in a research note on Thursday, October 5th. They set a “hold” rating for the company. DA Davidson upped their target price on shares of Crane from $92.00 to $107.00 in a research note on Thursday, July 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Crane in a research note on Wednesday, September 27th. They issued a “buy” rating and a $118.00 target price for the company. Finally, TD Securities reaffirmed a “hold” rating on shares of Crane in a research note on Thursday, September 28th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

Crane Stock Up 0.3 %

Shares of CR stock opened at $104.94 on Thursday. The firm has a fifty day moving average of $90.76 and a 200-day moving average of $86.24. 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 $67.28 and a 12-month high of $106.21. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.16. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $530.10 million during the quarter, compared to the consensus estimate of $509.32 million. During the same quarter in the prior year, the firm earned $1.86 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Wednesday, November 29th. Crane’s dividend payout ratio is 9.54%.

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.