The Manufacturers Life Insurance Company Decreases Holdings in Crane (NYSE:CR)

The Manufacturers Life Insurance Company reduced its position in Crane (NYSE:CR) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,447 shares of the conglomerate’s stock after selling 38,417 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.37% of Crane worth $33,626,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CR. Truvestments Capital LLC purchased a new stake in shares of Crane during the third quarter worth about $56,000. Citigroup Inc. boosted its stake in Crane by 328.3% in the 3rd quarter. Citigroup Inc. now owns 23,790 shares of the conglomerate’s stock worth $3,765,000 after purchasing an additional 18,236 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Crane by 0.5% during 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. Massachusetts Financial Services Co. MA lifted its stake in shares of Crane by 16.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock worth $103,748,000 after buying an additional 91,029 shares during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Crane by 5.1% during the third quarter. Segall Bryant & Hamill LLC now owns 183,725 shares of the conglomerate’s stock valued at $29,080,000 after buying an additional 8,899 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on CR shares. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Crane presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Crane Stock Up 0.3 %

Shares of CR stock opened at $182.08 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $102.80 and a twelve month high of $188.52. The stock has a 50 day moving average of $164.36 and a 200 day moving average of $153.73. The stock has a market cap of $10.42 billion, a P/E ratio of 40.11, a P/E/G ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last posted its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.06. The firm had revenue of $597.20 million during 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 business’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. As a group, sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, November 29th. Crane’s dividend payout ratio (DPR) is presently 18.06%.

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.