Alps Advisors Inc. bought a new stake in Crane Co. (NYSE:CR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,882 shares of the conglomerate’s stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Crane by 17.7% during the fourth quarter. BlackRock Inc. now owns 7,150,304 shares of the conglomerate’s stock valued at $516,111,000 after purchasing an additional 1,073,105 shares during the period. Vanguard Group Inc lifted its position in shares of Crane by 1.0% during the third quarter. Vanguard Group Inc now owns 4,426,179 shares of the conglomerate’s stock worth $435,315,000 after acquiring an additional 41,941 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Crane by 3.9% during the fourth quarter. Victory Capital Management Inc. now owns 994,867 shares of the conglomerate’s stock worth $71,809,000 after acquiring an additional 37,570 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Crane by 9.5% during the fourth quarter. Lord Abbett & CO. LLC now owns 847,599 shares of the conglomerate’s stock worth $61,180,000 after acquiring an additional 73,280 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Crane by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 636,202 shares of the conglomerate’s stock worth $45,921,000 after acquiring an additional 16,790 shares in the last quarter. 69.16% of the stock is owned by institutional investors and hedge funds.

NYSE:CR opened at $85.41 on Thursday. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 2.12 and a beta of 1.35. Crane Co. has a 1 year low of $67.18 and a 1 year high of $100.14. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, April 29th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.06. Crane had a return on equity of 24.49% and a net margin of 10.34%. The company had revenue of $831.70 million for the quarter, compared to the consensus estimate of $792.39 million. During the same quarter last year, the business posted $1.31 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Crane Co. will post 6.39 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 31st will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.83%. Crane’s dividend payout ratio (DPR) is presently 26.04%.

In related news, insider Louis V. Pinkham sold 55,103 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $85.03, for a total value of $4,685,408.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James A. Lavish sold 5,150 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $84.94, for a total value of $437,441.00. The disclosure for this sale can be found here. Company insiders own 3.39% of the company’s stock.

Several equities research analysts have issued reports on CR shares. Zacks Investment Research upgraded Crane from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. William Blair downgraded Crane from an “outperform” rating to a “market perform” rating and set a $79.14 target price on the stock. in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Stifel Nicolaus set a $100.00 target price on Crane and gave the stock a “buy” rating in a research report on Tuesday, January 29th. ValuEngine upgraded Crane from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Seaport Global Securities restated a “buy” rating and set a $105.00 target price on shares of Crane in a research report on Wednesday, January 30th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $96.45.

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Crane Company Profile

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.

Further Reading: Net Margin

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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