1,717 Shares in Crane (NYSE:CR) Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. acquired a new position in Crane (NYSE:CR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,717 shares of the conglomerate’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its position in Crane by 8.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,853 shares of the conglomerate’s stock worth $1,608,000 after buying an additional 1,104 shares in the last quarter. American Century Companies Inc. lifted its position in Crane by 3.0% in the 1st quarter. American Century Companies Inc. now owns 10,432 shares of the conglomerate’s stock worth $1,129,000 after buying an additional 299 shares in the last quarter. HighTower Advisors LLC lifted its position in Crane by 82.1% in the 1st quarter. HighTower Advisors LLC now owns 4,102 shares of the conglomerate’s stock worth $445,000 after buying an additional 1,849 shares in the last quarter. Citigroup Inc. lifted its position in Crane by 4.7% in the 1st quarter. Citigroup Inc. now owns 7,856 shares of the conglomerate’s stock worth $851,000 after buying an additional 355 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Crane by 1.1% in the 1st quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate’s stock worth $1,408,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 85.91% of the company’s stock.

Crane Stock Performance

Shares of CR opened at $134.93 on Thursday. The company has a market capitalization of $7.70 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. Crane has a one year low of $67.28 and a one year high of $135.90. 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 company’s fifty day moving average price is $124.86 and its 200 day moving average price is $109.11.

Crane (NYSE:CR) last announced its earnings results on Monday, January 29th. The conglomerate reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. The firm had revenue of $532.90 million for the quarter, compared to the consensus estimate of $519.55 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. As a group, analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.61%. This is a positive change from Crane’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 28th. Crane’s dividend payout ratio (DPR) is currently 22.22%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus raised their price target on shares of Crane from $124.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Bank of America raised their price target on shares of Crane from $110.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.67.

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.