Mount Yale Investment Advisors LLC Lowers Stock Position in Crane (NYSE:CR)

Mount Yale Investment Advisors LLC lowered its position in Crane (NYSE:CR) by 5.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 8,688 shares of the conglomerate’s stock after selling 458 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Crane were worth $1,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morningstar Investment Services LLC increased its holdings in Crane by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 126,031 shares of the conglomerate’s stock worth $14,913,000 after buying an additional 62,613 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in Crane during the fourth quarter worth about $951,000. Russell Investments Group Ltd. boosted its position in Crane by 70.1% during the first quarter. Russell Investments Group Ltd. now owns 75,410 shares of the conglomerate’s stock worth $10,190,000 after purchasing an additional 31,069 shares during the period. Congress Asset Management Co. MA boosted its position in Crane by 0.5% during the fourth quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock worth $156,282,000 after purchasing an additional 6,605 shares during the period. Finally, FORA Capital LLC bought a new position in Crane during the first quarter worth about $911,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Crane Price Performance

Shares of CR stock traded up $0.25 during trading hours on Monday, hitting $159.12. 581,523 shares of the company’s stock were exchanged, compared to its average volume of 236,972. The company has a market capitalization of $9.09 billion, a PE ratio of 42.59, a PEG ratio of 1.93 and a beta of 0.80. Crane has a 12-month low of $82.57 and a 12-month high of $162.28. The business’s 50 day simple moving average is $146.37 and its 200-day simple moving average is $135.74. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on CR. DA Davidson raised their price objective on shares of Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Stifel Nicolaus raised their price objective on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday, April 27th. Finally, Bank of America lifted their target price on shares of Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Crane presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.50.

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.