Sutton Place Investors LLC Takes Position in Crane (NYSE:CR)

Sutton Place Investors LLC acquired a new position in Crane (NYSE:CR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,523 shares of the conglomerate’s stock, valued at approximately $206,000.

Several other institutional investors have also recently added to or reduced their stakes in CR. Raymond James & Associates lifted its position in Crane by 7.9% in the 1st quarter. Raymond James & Associates now owns 68,481 shares of the conglomerate’s stock valued at $9,254,000 after purchasing an additional 5,014 shares during the last quarter. Norden Group LLC boosted its position in Crane by 1,363.7% during the 1st quarter. Norden Group LLC now owns 89,432 shares of the conglomerate’s stock worth $12,086,000 after acquiring an additional 83,322 shares during the period. InTrack Investment Management Inc acquired a new position in Crane during the 1st quarter worth $210,000. State of Michigan Retirement System grew its stake in shares of Crane by 2.6% in the first quarter. State of Michigan Retirement System now owns 11,972 shares of the conglomerate’s stock worth $1,618,000 after purchasing an additional 300 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Crane by 9.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 65,759 shares of the conglomerate’s stock valued at $8,886,000 after purchasing an additional 5,759 shares during the period. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CR. StockNews.com raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday. Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Bank of America upped their target price on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. DA Davidson lifted their price target on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Stifel Nicolaus raised their target price on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.00.

Crane Stock Down 3.0 %

NYSE CR traded down $4.29 during trading on Tuesday, reaching $139.98. 232,820 shares of the company’s stock were exchanged, compared to its average volume of 246,089. The firm has a market capitalization of $7.99 billion, a PE ratio of 37.54, a P/E/G ratio of 1.93 and a beta of 1.49. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $146.29. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $131.69 and its 200-day simple moving average is $117.16.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. Sell-side analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, May 30th. Crane’s payout ratio is presently 21.98%.

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.