Chesapeake Capital Corp IL Invests $509,000 in Crane (NYSE:CR)

Chesapeake Capital Corp IL bought a new position in Crane (NYSE:CR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,514 shares of the conglomerate’s stock, valued at approximately $509,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Levin Capital Strategies L.P. purchased a new position in shares of Crane in the 2nd quarter worth about $214,000. Choreo LLC bought a new stake in Crane in the 2nd quarter worth approximately $217,000. Acadian Asset Management LLC boosted its stake in Crane by 1,099.1% in the second quarter. Acadian Asset Management LLC now owns 31,777 shares of the conglomerate’s stock worth $4,601,000 after buying an additional 29,127 shares in the last quarter. Parcion Private Wealth LLC bought a new position in Crane during the second quarter valued at approximately $204,000. Finally, Private Advisor Group LLC raised its stake in shares of Crane by 12.4% during the second quarter. Private Advisor Group LLC now owns 4,519 shares of the conglomerate’s stock worth $655,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CR shares. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price objective on Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. UBS Group raised their target price on shares of Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Finally, Bank of America upped their price target on Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $155.00.

Crane Stock Up 1.5 %

CR stock opened at $144.32 on Tuesday. The business’s 50 day moving average price is $149.89 and its two-hundred day moving average price is $142.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 38.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $162.34.

Crane (NYSE:CR) last released its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. During the same period last year, the business earned $1.10 earnings per share. The business’s revenue was up 14.0% on a year-over-year basis. As a group, analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 30th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, August 30th. Crane’s dividend payout ratio (DPR) is currently 21.98%.

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.