Truvestments Capital LLC Purchases Shares of 357 Crane (NYSE:CR)

Truvestments Capital LLC purchased a new stake in shares of Crane (NYSE:CR) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 357 shares of the conglomerate’s stock, valued at approximately $56,000.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Crane by 10.0% in the second 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 boosted its stake in shares of Crane by 16.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock worth $103,748,000 after acquiring an additional 91,029 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Crane by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 585,718 shares of the conglomerate’s stock worth $92,707,000 after acquiring an additional 3,188 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Crane by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock worth $62,420,000 after acquiring an additional 4,276 shares during the period. Finally, Driehaus Capital Management LLC boosted its stake in shares of Crane by 12.5% in the second quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after acquiring an additional 42,743 shares during the period. Institutional investors own 75.14% of the company’s stock.

Crane Price Performance

Shares of Crane stock opened at $181.72 on Thursday. The stock has a 50 day moving average of $163.28 and a 200 day moving average of $153.34. Crane has a 12 month low of $102.80 and a 12 month high of $188.52. The firm has a market cap of $10.40 billion, a PE ratio of 40.03, a PEG ratio of 1.93 and a beta of 0.81. 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 (NYSE:CR) last announced its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. During the same period in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. On average, research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 dividend on an annualized basis and a yield of 0.45%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus lowered Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.