New York State Teachers Retirement System Acquires 4,196 Shares of Crane Co. (CR)

New York State Teachers Retirement System boosted its holdings in Crane Co. (NYSE:CR) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,469 shares of the conglomerate’s stock after purchasing an additional 4,196 shares during the period. New York State Teachers Retirement System’s holdings in Crane were worth $7,063,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CR. Raymond James Financial Services Advisors Inc. raised its stake in Crane by 67.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,472 shares of the conglomerate’s stock worth $1,225,000 after buying an additional 5,805 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Crane by 8.6% in the first quarter. Victory Capital Management Inc. now owns 1,080,417 shares of the conglomerate’s stock worth $91,425,000 after purchasing an additional 85,550 shares during the period. Moody Aldrich Partners LLC grew its holdings in Crane by 1.6% in the first quarter. Moody Aldrich Partners LLC now owns 33,059 shares of the conglomerate’s stock worth $2,797,000 after purchasing an additional 510 shares during the period. Stevens Capital Management LP grew its holdings in Crane by 12.2% in the first quarter. Stevens Capital Management LP now owns 14,929 shares of the conglomerate’s stock worth $1,263,000 after purchasing an additional 1,624 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Crane by 3.0% in the first quarter. Crossmark Global Holdings Inc. now owns 4,879 shares of the conglomerate’s stock worth $413,000 after purchasing an additional 140 shares during the period. 69.14% of the stock is owned by institutional investors and hedge funds.

Shares of CR opened at $80.50 on Friday. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Crane Co. has a fifty-two week low of $67.18 and a fifty-two week high of $100.14.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, April 29th. The conglomerate reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. Crane had a net margin of 10.34% and a return on equity of 24.49%. The firm had revenue of $831.70 million for the quarter, compared to analysts’ expectations of $792.39 million. During the same quarter in the prior year, the company posted $1.31 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Crane Co. will post 6.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, May 30th. Crane’s payout ratio is 26.04%.

A number of brokerages have weighed in on CR. Buckingham Research upped their price objective on shares of Crane from $101.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. UBS Group upped their price objective on shares of Crane from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Desjardins restated a “buy” rating on shares of Crane in a report on Thursday, March 7th. Finally, GMP Securities restated a “hold” rating on shares of Crane in a report on Thursday, February 14th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $96.45.

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About Crane

Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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