Brooklyn Investment Group Takes $95,000 Position in Crane (NYSE:CR)

Brooklyn Investment Group purchased a new position in shares of Crane (NYSE:CR) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 602 shares of the conglomerate’s stock, valued at approximately $95,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Crane by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock worth $111,882,000 after acquiring an additional 70,297 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Crane by 16.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock valued at $103,748,000 after purchasing an additional 91,029 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Crane by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,718 shares of the conglomerate’s stock valued at $92,707,000 after purchasing an additional 3,188 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 worth $62,420,000 after purchasing an additional 4,276 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in shares of Crane by 12.5% during the 2nd 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. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Stock Down 1.8 %

Crane stock opened at $181.72 on Thursday. Crane has a fifty-two week low of $102.80 and a fifty-two week high of $188.52. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 40.03, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The stock’s fifty day moving average is $163.28 and its two-hundred day moving average is $153.34. 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 (NYSE:CR) last issued its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. The firm had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 annualized dividend and a dividend yield of 0.45%. Crane’s dividend payout ratio is currently 18.06%.

Wall Street Analysts Forecast Growth

CR has been the topic of a number of analyst reports. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised their target price on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $167.00.

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.