Chesapeake Capital Corp IL Increases Holdings in Crane (NYSE:CR)

Chesapeake Capital Corp IL grew its holdings in Crane (NYSE:CR) by 27.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,495 shares of the conglomerate’s stock after acquiring an additional 981 shares during the period. Chesapeake Capital Corp IL’s holdings in Crane were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Matrix Trust Co purchased a new position in shares of Crane in the third quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new position in shares of Crane in the third quarter valued at about $28,000. Covestor Ltd lifted its position in shares of Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 131 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Crane in the third quarter valued at about $30,000. Finally, ORG Partners LLC purchased a new position in shares of Crane in the second quarter valued at about $31,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Trading Down 0.2 %

Shares of CR stock opened at $173.50 on Friday. Crane has a 1 year low of $102.80 and a 1 year high of $180.87. 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’s 50 day simple moving average is $158.85 and its two-hundred day simple moving average is $151.43. The company has a market cap of $9.93 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) 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 business had revenue of $597.20 million for the quarter, compared to the consensus estimate of $594.45 million. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Research analysts predict 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 dividend of $0.205 per share. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.47%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CR shares. Stifel Nicolaus boosted their target price on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.33.

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.