Mutual of America Capital Management LLC Reduces Stock Position in Crane (NYSE:CR)

Mutual of America Capital Management LLC decreased its holdings in Crane (NYSE:CR) by 18.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,740 shares of the conglomerate’s stock after selling 13,112 shares during the period. Mutual of America Capital Management LLC’s holdings in Crane were worth $8,981,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors increased its stake in Crane by 103.3% in the 1st quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock worth $182,216,000 after buying an additional 685,230 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Crane by 10.0% during 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 holdings in shares of Crane by 7.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 564,441 shares of the conglomerate’s stock valued at $81,833,000 after purchasing an additional 38,310 shares during the period. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 4,276 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in Crane by 12.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after purchasing an additional 42,743 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Crane Trading Down 0.2 %

Shares of NYSE CR opened at $173.50 on Monday. The business has a fifty day moving average price of $158.85 and a 200 day moving average price of $151.51. Crane has a 1-year low of $102.80 and a 1-year high of $180.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The stock has a market capitalization of $9.93 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. The business had revenue of $597.20 million for 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 company’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. Equities research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently declared 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 0.47%. The ex-dividend date is Friday, November 29th. Crane’s payout ratio is presently 18.06%.

Analysts Set New Price Targets

CR has been the subject of several research reports. Stifel Nicolaus upped their target price on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Crane has a consensus rating of “Moderate Buy” and an average price target of $157.33.

About Crane

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.