Gamco Investors INC. ET AL Grows Holdings in Crane (NYSE:CR)

Gamco Investors INC. ET AL increased its stake in Crane (NYSE:CR) by 77.0% in the second quarter, Holdings Channel reports. The institutional investor owned 2,410,330 shares of the conglomerate’s stock after acquiring an additional 1,048,595 shares during the period. Crane makes up about 1.9% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 3rd biggest holding. Gamco Investors INC. ET AL’s holdings in Crane were worth $180,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Crane by 77.9% during the second quarter. First Horizon Advisors Inc. now owns 338 shares of the conglomerate’s stock valued at $25,000 after buying an additional 148 shares during the last quarter. Larson Financial Group LLC grew its position in Crane by 1,845.5% in the 2nd quarter. Larson Financial Group LLC now owns 428 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 406 shares during the last quarter. Money Concepts Capital Corp purchased a new stake in Crane in the fourth quarter worth $25,000. Orion Capital Management LLC bought a new stake in shares of Crane during the first quarter worth $28,000. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Crane by 768.3% during the second quarter. JFS Wealth Advisors LLC now owns 356 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 315 shares during the period. 85.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CR has been the topic of several recent analyst reports. DA Davidson raised their price target on shares of Crane from $92.00 to $107.00 in a research note on Thursday, July 27th. Bank of America reduced their target price on shares of Crane from $140.00 to $105.00 in a research report on Tuesday, October 3rd. TD Securities reiterated a “hold” rating on shares of Crane in a report on Thursday, September 28th. CJS Securities initiated coverage on Crane in a research note on Monday, October 30th. They issued an “outperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Crane in a research report on Wednesday, September 27th. They set a “buy” rating and a $118.00 target price for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

Crane Stock Up 0.5 %

CR stock traded up $0.53 during trading on Friday, hitting $106.21. 233,595 shares of the company’s stock traded hands, compared to its average volume of 307,927. The firm has a market capitalization of $6.03 billion, a P/E ratio of 14.07, a PEG ratio of 1.93 and a beta of 1.49. Crane has a 1 year low of $67.28 and a 1 year high of $106.58. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $91.56 and a two-hundred day simple moving average of $86.72.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. The business had revenue of $530.10 million for the quarter, compared to the consensus estimate of $509.32 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $1.86 EPS. Sell-side analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders 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 0.68%. The ex-dividend date of this dividend is Wednesday, November 29th. Crane’s 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.