Millburn Ridgefield Corp Acquires Shares of 285 Crane (NYSE:CR)

Millburn Ridgefield Corp bought a new position in shares of Crane (NYSE:CR) in the third quarter, HoldingsChannel reports. The firm bought 285 shares of the conglomerate’s stock, valued at approximately $45,000.

A number of other large investors have also modified their holdings of the business. Matrix Trust Co acquired a new stake in Crane during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in Crane during the 3rd quarter valued at $28,000. ORG Wealth Partners LLC acquired a new stake in Crane during the 3rd quarter valued at $30,000. ORG Partners LLC acquired a new stake in Crane during the 2nd quarter valued at $31,000. Finally, UMB Bank n.a. grew its holdings in Crane by 81.8% during the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after buying an additional 99 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

Shares of Crane stock opened at $177.88 on Thursday. Crane has a twelve month low of $102.80 and a twelve month high of $188.52. The stock has a market capitalization of $10.18 billion, a P/E ratio of 39.18, a PEG ratio of 1.93 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average price is $165.95 and its 200 day moving average price is $154.58.

Crane (NYSE:CR) last issued its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. During the same quarter last year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.46%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CR. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective on the stock. in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $167.00.

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.