Crane (NYSE:CR) Shares Purchased by Capital International Investors

Capital International Investors increased its holdings in shares of Crane (NYSE:CR) by 103.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,348,451 shares of the conglomerate’s stock after acquiring an additional 685,230 shares during the period. Capital International Investors owned approximately 2.36% of Crane worth $182,216,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Crane by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate’s stock valued at $578,282,000 after acquiring an additional 16,167 shares during the period. Capital World Investors lifted its stake in Crane by 4.0% in the 4th quarter. Capital World Investors now owns 2,095,540 shares of the conglomerate’s stock valued at $247,567,000 after buying an additional 79,710 shares in the last quarter. Congress Asset Management Co. MA lifted its stake in Crane by 0.5% in the 4th quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock valued at $156,282,000 after buying an additional 6,605 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Crane by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 742,252 shares of the conglomerate’s stock valued at $87,690,000 after buying an additional 37,388 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Crane by 13.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 727,846 shares of the conglomerate’s stock valued at $98,354,000 after buying an additional 83,938 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Trading Up 2.3 %

Shares of NYSE CR traded up $3.51 during midday trading on Friday, reaching $158.87. 254,079 shares of the stock were exchanged, compared to its average volume of 234,563. The company has a 50 day simple moving average of $146.37 and a 200 day simple moving average of $135.43. The stock has a market capitalization of $9.08 billion, a P/E ratio of 42.59, a PEG ratio of 1.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a twelve month low of $82.57 and a twelve month high of $160.39.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.52%. Crane’s dividend payout ratio is currently 21.98%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CR shares. Stifel Nicolaus raised their price target on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. DA Davidson raised their target price on shares of Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group raised their target price on shares of Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. Finally, Bank of America raised their target price on shares of Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.50.

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.