Oppenheimer Asset Management Inc. Decreases Position in Crane (NYSE:CR)

Oppenheimer Asset Management Inc. lowered its position in Crane (NYSE:CR) by 32.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,784 shares of the conglomerate’s stock after selling 7,540 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Crane were worth $2,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors raised its position in Crane by 103.3% during the first quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock worth $182,216,000 after acquiring an additional 685,230 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Crane by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock worth $111,882,000 after purchasing an additional 70,297 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Crane by 7.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 564,441 shares of the conglomerate’s stock valued at $81,833,000 after buying an additional 38,310 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Crane by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock valued at $62,420,000 after buying an additional 4,276 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its position in Crane by 12.5% during the second quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after buying an additional 42,743 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

CR has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.33.

Crane Trading Down 0.2 %

NYSE:CR opened at $173.50 on Friday. Crane has a 12 month low of $102.80 and a 12 month high of $180.87. The business’s 50-day moving average is $158.85 and its two-hundred day moving average is $151.43. 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 firm has a market capitalization 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 released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, topping the consensus estimate of $1.32 by $0.06. The firm had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. Research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 annualized dividend and a dividend yield of 0.47%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

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.