Barometer Capital Management Inc. Invests $1.86 Million in Crane (NYSE:CR)

Barometer Capital Management Inc. acquired a new position in shares of Crane (NYSE:CR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,700 shares of the conglomerate’s stock, valued at approximately $1,855,000.

A number of other hedge funds also recently added to or reduced their stakes in CR. Fifth Third Bancorp increased its stake in Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 99 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Crane during the 4th quarter worth $90,000. Claret Asset Management Corp purchased a new stake in shares of Crane in the 4th quarter worth about $201,000. Raymond James Trust N.A. acquired a new stake in Crane in the 4th quarter valued at about $203,000. Finally, DAVENPORT & Co LLC purchased a new position in Crane during the 4th quarter valued at about $207,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Stock Down 0.1 %

NYSE CR traded down $0.18 on Tuesday, hitting $142.29. 235,163 shares of the stock traded hands, compared to its average volume of 233,945. The company has a market capitalization of $8.13 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 1.93 and a beta of 0.87. The stock has a 50-day moving average of $141.41 and a 200 day moving average of $127.27. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $77.73 and a twelve month high of $150.01.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. During the same period in the prior year, the company posted $1.25 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, May 31st. Crane’s dividend payout ratio is presently 21.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. DA Davidson increased their price target on shares of Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group boosted their price target on Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $157.00 price objective on shares of Crane in a research note on Wednesday, May 15th. Bank of America lifted their price objective on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.67.

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.