New York State Teachers Retirement System Sells 3,749 Shares of Crane (NYSE:CR)

New York State Teachers Retirement System lowered its stake in shares of Crane (NYSE:CR) by 5.8% in the first quarter, Holdings Channel reports. The firm owned 60,675 shares of the conglomerate’s stock after selling 3,749 shares during the period. New York State Teachers Retirement System’s holdings in Crane were worth $9,294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CR. QRG Capital Management Inc. bought a new position in Crane in the fourth quarter worth $249,000. Jones Financial Companies Lllp increased its stake in shares of Crane by 17.8% in the fourth quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate’s stock valued at $89,000 after buying an additional 88 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Crane in the fourth quarter valued at $4,675,000. Arizona State Retirement System increased its stake in shares of Crane by 0.9% in the fourth quarter. Arizona State Retirement System now owns 14,113 shares of the conglomerate’s stock valued at $2,142,000 after buying an additional 123 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Crane in the fourth quarter valued at about $12,890,000. 75.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CR. DA Davidson reiterated a “buy” rating and issued a $200.00 price target on shares of Crane in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Crane from $187.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Stifel Nicolaus upped their price target on Crane from $144.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, April 30th. Finally, UBS Group set a $215.00 price target on Crane and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Crane presently has an average rating of “Moderate Buy” and an average price target of $197.75.

Insiders Place Their Bets

In other Crane news, SVP Jason D. Feldman sold 1,300 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total transaction of $230,230.00. Following the transaction, the senior vice president owned 9,796 shares in the company, valued at $1,734,871.60. This trade represents a 11.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.12% of the stock is owned by insiders.

Crane Trading Up 0.4%

Shares of Crane stock opened at $193.16 on Friday. Crane has a 12-month low of $127.04 and a 12-month high of $194.06. The business’s 50 day moving average is $176.57 and its 200-day moving average is $162.91. 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 stock has a market cap of $11.11 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.93 and a beta of 1.26.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $557.60 million for the quarter, compared to analysts’ expectations of $546.93 million. During the same quarter in the prior year, the business earned $1.22 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, May 30th. Crane’s payout ratio is 15.94%.

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.