Crane (NYSE:CR) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. trimmed its holdings in Crane (NYSE:CRFree Report) by 50.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 300 shares of the conglomerate’s stock after selling 300 shares during the period. Salem Investment Counselors Inc.’s holdings in Crane were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Crane by 97.2% during the 2nd quarter. BlackRock Inc. now owns 8,031,020 shares of the conglomerate’s stock worth $584,384,000 after purchasing an additional 3,959,145 shares during the last quarter. State Street Corp boosted its stake in shares of Crane by 93.0% during the 2nd quarter. State Street Corp now owns 2,666,141 shares of the conglomerate’s stock worth $193,106,000 after purchasing an additional 1,285,048 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Crane by 76.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,408,030 shares of the conglomerate’s stock worth $179,899,000 after purchasing an additional 1,046,295 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Crane by 111.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,413,999 shares of the conglomerate’s stock worth $102,875,000 after purchasing an additional 745,490 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in shares of Crane by 120.5% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,316,245 shares of the conglomerate’s stock worth $116,935,000 after purchasing an additional 719,408 shares during the last quarter. 85.91% of the stock is owned by institutional investors and hedge funds.

Crane Trading Up 0.7 %

Shares of CR stock opened at $134.28 on Tuesday. The firm has a market cap of $7.67 billion, a P/E ratio of 36.39, 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 $135.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The firm’s 50-day simple moving average is $124.02 and its 200-day simple moving average is $108.59.

Crane (NYSE:CRGet Free Report) last posted its quarterly earnings results on Monday, January 29th. The conglomerate reported $0.90 EPS for the quarter, beating the consensus estimate of $0.81 by $0.09. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $532.90 million for the quarter, compared to analyst estimates of $519.55 million. As a group, equities analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were issued a $0.205 dividend. This is a positive change from Crane’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 28th. This represents a $0.82 annualized dividend and a yield of 0.61%. Crane’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Ratings Changes

CR has been the topic of several analyst reports. StockNews.com cut shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Stifel Nicolaus raised their price target on shares of Crane from $124.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Bank of America increased their price objective on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.67.

Get Our Latest Analysis on CR

Crane Profile

(Free Report)

Crane Company, together with its subsidiaries, manufactures and sells engineered 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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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