AlphaQuest LLC Takes Position in Crane (NYSE:CR)

AlphaQuest LLC purchased a new stake in Crane (NYSE:CR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 663 shares of the conglomerate’s stock, valued at approximately $101,000.

Other large investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new position in Crane during the 3rd quarter worth $515,000. Citigroup Inc. raised its position in Crane by 328.3% during the 3rd quarter. Citigroup Inc. now owns 23,790 shares of the conglomerate’s stock worth $3,765,000 after purchasing an additional 18,236 shares during the last quarter. Rhumbline Advisers raised its position in Crane by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,191 shares of the conglomerate’s stock worth $20,515,000 after purchasing an additional 2,953 shares during the last quarter. Twelve Points Wealth Management LLC raised its position in Crane by 50.5% during the 4th quarter. Twelve Points Wealth Management LLC now owns 9,535 shares of the conglomerate’s stock worth $1,447,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Crane by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,718 shares of the conglomerate’s stock worth $92,707,000 after acquiring an additional 3,188 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Insider Activity at Crane

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CR shares. UBS Group increased their price target on Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. StockNews.com downgraded Crane from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. DA Davidson reiterated a “buy” rating and set a $200.00 price target on shares of Crane in a report on Tuesday, March 11th. Finally, Stifel Nicolaus decreased their price target on Crane from $176.00 to $170.00 and set a “hold” rating for the company in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Crane has a consensus rating of “Moderate Buy” and a consensus price target of $174.80.

Crane Stock Performance

Shares of CR opened at $151.35 on Wednesday. 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 stock has a 50-day moving average of $161.97 and a 200-day moving average of $161.70. The company has a market cap of $8.69 billion, a PE ratio of 20.05, a P/E/G ratio of 1.93 and a beta of 1.30. Crane has a one year low of $128.50 and a one year high of $188.52.

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

Crane Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a $0.23 dividend. This is a boost from Crane’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.92 annualized dividend and a yield of 0.61%. Crane’s dividend payout ratio (DPR) is presently 18.18%.

Crane 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.