Verdence Capital Advisors LLC Buys Shares of 1,314 Crane (NYSE:CR)

Verdence Capital Advisors LLC purchased a new position in shares of Crane (NYSE:CR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,314 shares of the conglomerate’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Matrix Trust Co purchased a new stake in shares of Crane in the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in Crane during the 3rd quarter valued at $28,000. Covestor Ltd increased its position in Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after buying an additional 131 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Crane in the third quarter worth $30,000. Finally, ORG Partners LLC purchased a new stake in shares of Crane in the second quarter valued at $31,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus upped their price objective on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.33.

Crane Trading Down 1.0 %

Shares of CR stock opened at $177.00 on Wednesday. Crane has a 1-year low of $99.98 and a 1-year high of $180.87. The firm’s 50-day simple moving average is $157.22 and its 200-day simple moving average is $150.81. The firm has a market cap of $10.13 billion, a P/E ratio of 38.99, a PEG ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CR) last released its quarterly earnings data 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. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. During the same period in the previous year, the company posted $1.03 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s payout ratio is 18.06%.

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.