Picton Mahoney Asset Management Acquires New Position in Crane (NYSE:CR)

Picton Mahoney Asset Management acquired a new stake in Crane (NYSE:CR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 760 shares of the conglomerate’s stock, valued at approximately $90,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Congress Asset Management Co. MA lifted its position in shares of Crane by 120.5% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,316,245 shares of the conglomerate’s stock valued at $116,935,000 after acquiring an additional 719,408 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Crane during the 3rd quarter valued at approximately $21,302,000. JS Capital Management LLC lifted its position in shares of Crane by 98.0% during the 3rd quarter. JS Capital Management LLC now owns 400,000 shares of the conglomerate’s stock valued at $35,536,000 after acquiring an additional 198,000 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Crane by 143.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 116,920 shares of the conglomerate’s stock valued at $10,387,000 after acquiring an additional 68,795 shares during the period. Finally, Townsquare Capital LLC acquired a new position in shares of Crane during the 3rd quarter worth approximately $2,997,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CR. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. DA Davidson upped their target price on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Stifel Nicolaus upped their target price on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Bank of America upped their target price on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, StockNews.com raised Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Crane presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.00.

Crane Trading Down 0.3 %

Shares of CR opened at $144.18 on Friday. The stock has a fifty day moving average of $135.01 and a two-hundred day moving average of $119.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a market capitalization of $8.24 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. Crane has a fifty-two week low of $71.33 and a fifty-two week high of $146.68.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The company had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 EPS. As a group, analysts forecast 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, June 12th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.57%. Crane’s payout ratio is 21.98%.

Crane 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.