Crane (NYSE:CR) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC grew its holdings in shares of Crane (NYSE:CR) by 145.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,814 shares of the conglomerate’s stock after acquiring an additional 25,400 shares during the period. Corient Private Wealth LLC owned about 0.07% of Crane worth $6,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in Crane in the third quarter valued at $37,000. Millburn Ridgefield Corp acquired a new position in Crane during the 3rd quarter worth $45,000. Truvestments Capital LLC bought a new stake in shares of Crane in the 3rd quarter worth about $56,000. UMB Bank n.a. raised its stake in shares of Crane by 69.1% in the 4th quarter. UMB Bank n.a. now owns 372 shares of the conglomerate’s stock valued at $56,000 after purchasing an additional 152 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Crane during the third quarter worth about $86,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crane news, VP Alejandro Alcala sold 2,293 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction of $392,011.28. Following the sale, the vice president now directly owns 32,963 shares in the company, valued at approximately $5,635,354.48. The trade was a 6.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CR has been the topic of several research reports. Stifel Nicolaus cut their price objective on Crane from $176.00 to $170.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. UBS Group upped their price target on Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. DA Davidson reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Crane in a report on Tuesday, March 11th. Finally, StockNews.com lowered shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and a consensus target price of $174.80.

Crane Stock Performance

CR stock opened at $152.99 on Friday. The stock’s fifty day moving average is $161.98 and its two-hundred day moving average is $161.59. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.93 and a beta of 1.30. 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 has a 1 year low of $128.50 and a 1 year high of $188.52.

Crane (NYSE:CR) last posted its earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same quarter last year, the business posted $0.90 earnings per share. On average, research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.92 annualized dividend and a yield of 0.60%. This is an increase from Crane’s previous quarterly dividend of $0.21. Crane’s payout ratio is presently 18.18%.

About Crane

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.