Intrust Bank NA Invests $276,000 in Crane (NYSE:CR)

Intrust Bank NA purchased a new position in Crane (NYSE:CR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,332 shares of the conglomerate’s stock, valued at approximately $276,000.

Other institutional investors also recently bought and sold shares of the company. SummerHaven Investment Management LLC lifted its stake 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 worth $936,000 after buying an additional 99 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Crane by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 61,179 shares of the conglomerate’s stock valued at $7,228,000 after purchasing an additional 216 shares during the last quarter. Fractal Investments LLC purchased a new stake in Crane during the 4th quarter valued at $579,000. California Public Employees Retirement System increased its holdings in shares of Crane by 1.2% in the 4th quarter. California Public Employees Retirement System now owns 100,416 shares of the conglomerate’s stock worth $11,863,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Cetera Trust Company N.A purchased a new position in shares of Crane in the fourth quarter worth $247,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Crane Price Performance

NYSE CR opened at $139.50 on Thursday. The business’s fifty day moving average is $132.10 and its 200 day moving average is $117.54. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $146.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a market capitalization of $7.96 billion, a PE ratio of 37.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. Sell-side analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be given a $0.205 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.59%. Crane’s payout ratio is currently 21.98%.

Crane Company Profile

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.