Principal Financial Group Inc. Has $67.76 Million Holdings in Crane (NYSE:CR)

Principal Financial Group Inc. boosted its holdings in shares of Crane (NYSE:CR) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 446,500 shares of the conglomerate’s stock after acquiring an additional 5,250 shares during the period. Principal Financial Group Inc. owned approximately 0.78% of Crane worth $67,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CR. Quarry LP bought a new position in shares of Crane during the third quarter worth about $37,000. Millburn Ridgefield Corp acquired a new position in Crane during the 3rd quarter worth approximately $45,000. Truvestments Capital LLC bought a new position in shares of Crane during the 3rd quarter worth approximately $56,000. UMB Bank n.a. raised its holdings in shares of Crane by 69.1% in the fourth quarter. UMB Bank n.a. now owns 372 shares of the conglomerate’s stock valued at $56,000 after purchasing an additional 152 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Crane during the third quarter worth $86,000. 75.14% of the stock is currently owned by institutional investors.

Insider Transactions at Crane

In related news, VP Alejandro Alcala sold 2,293 shares of Crane stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $170.96, for a total value of $392,011.28. Following the transaction, the vice president now directly owns 32,963 shares of the company’s stock, valued at $5,635,354.48. This trade represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

Crane Stock Performance

Shares of CR stock opened at $173.40 on Thursday. Crane has a 52 week low of $118.48 and a 52 week high of $188.52. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.93 and a beta of 1.25. The company has a 50-day simple moving average of $161.29 and a 200 day simple moving average of $160.60. 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 (NYSE:CR) last issued its quarterly earnings data on Monday, January 27th. The conglomerate reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same quarter in the previous year, the firm earned $0.90 earnings per share. On average, sell-side analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase from Crane’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 28th. Crane’s dividend payout ratio is presently 18.18%.

Analysts Set New Price Targets

CR has been the topic of several analyst reports. StockNews.com raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. UBS Group boosted their price target on Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Stifel Nicolaus decreased their target price on shares of Crane from $176.00 to $170.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, DA Davidson increased their price target on shares of Crane from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.80.

Crane Company 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.