American International Group Inc. Has $8.74 Million Position in Crane (NYSE:CR)

American International Group Inc. cut its position in Crane (NYSE:CR) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,671 shares of the conglomerate’s stock after selling 1,303 shares during the quarter. American International Group Inc. owned about 0.11% of Crane worth $8,739,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its stake in Crane by 150.6% in the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 131 shares during the period. Fifth Third Bancorp lifted its position in shares of Crane by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 99 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Crane during the 4th quarter valued at $90,000. Claret Asset Management Corp bought a new stake in shares of Crane during the 4th quarter valued at $201,000. Finally, Raymond James Trust N.A. bought a new stake in shares of Crane during the 4th quarter valued at $203,000. 75.14% of the stock is currently owned by institutional investors.

Crane Trading Up 3.4 %

Shares of CR stock traded up $5.15 on Thursday, hitting $156.92. The company had a trading volume of 135,710 shares, compared to its average volume of 233,461. The firm has a market cap of $8.97 billion, a P/E ratio of 40.75, a P/E/G ratio of 1.93 and a beta of 0.80. The stock’s 50-day moving average is $145.91 and its two-hundred day moving average is $134.98. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a twelve month low of $82.57 and a twelve month high of $157.79.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The company had revenue of $565.30 million during the quarter, compared to analysts’ expectations of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th will be paid a $0.205 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. Crane’s payout ratio is 21.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CR shares. StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a research report on Saturday, April 27th. DA Davidson boosted their price target on Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group boosted their price target on Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, Stifel Nicolaus boosted their price target on Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Crane currently has a consensus rating of “Moderate Buy” and an average target price of $145.50.

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.