Quantbot Technologies LP Acquires 2,376 Shares of Crane (NYSE:CR)

Quantbot Technologies LP increased its holdings in shares of Crane (NYSE:CR) by 44.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,717 shares of the conglomerate’s stock after buying an additional 2,376 shares during the quarter. Quantbot Technologies LP’s holdings in Crane were worth $1,221,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CR. AQR Capital Management LLC lifted its holdings in shares of Crane by 11.9% in the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock worth $27,902,000 after acquiring an additional 20,518 shares during the last quarter. WINTON GROUP Ltd lifted its stake in Crane by 70.7% in the 2nd quarter. WINTON GROUP Ltd now owns 123,961 shares of the conglomerate’s stock valued at $17,972,000 after purchasing an additional 51,342 shares during the last quarter. Chesapeake Capital Corp IL bought a new position in Crane in the 2nd quarter valued at approximately $509,000. American Century Companies Inc. grew its stake in shares of Crane by 673.2% during the second quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock worth $11,913,000 after buying an additional 71,544 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Crane by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 112,797 shares of the conglomerate’s stock worth $16,353,000 after buying an additional 4,355 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CR. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus lowered 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. Two 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Crane Stock Performance

NYSE CR opened at $182.08 on Friday. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 1.93 and a beta of 0.81. Crane has a twelve month low of $102.80 and a twelve month high of $188.52. The stock has a fifty day simple moving average of $164.96 and a 200 day simple moving average of $154.01. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.06. The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s dividend payout ratio is currently 18.06%.

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.