MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 21,215 Shares of Crane (NYSE:CR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Crane (NYSE:CRFree Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 390,980 shares of the conglomerate’s stock after acquiring an additional 21,215 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.68% of Crane worth $59,331,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CR. Vanguard Group Inc. raised its holdings in Crane by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,695,440 shares of the conglomerate’s stock worth $712,533,000 after purchasing an additional 14,373 shares in the last quarter. Capital World Investors raised its stake in shares of Crane by 16.9% during the 4th quarter. Capital World Investors now owns 2,455,854 shares of the conglomerate’s stock worth $372,676,000 after acquiring an additional 355,765 shares in the last quarter. Invesco Ltd. lifted its position in Crane by 10.7% during the fourth quarter. Invesco Ltd. now owns 1,425,015 shares of the conglomerate’s stock valued at $216,246,000 after acquiring an additional 138,279 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Crane by 1.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 976,497 shares of the conglomerate’s stock valued at $148,184,000 after acquiring an additional 14,227 shares during the last quarter. Finally, Norges Bank acquired a new stake in Crane in the fourth quarter valued at approximately $144,961,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CR. StockNews.com lowered Crane from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $186.00 price target on Crane and gave the company a “buy” rating in a research note on Monday, April 14th. Stifel Nicolaus boosted their price target on Crane from $144.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, April 30th. DA Davidson restated a “buy” rating and set a $200.00 price objective on shares of Crane in a report on Tuesday, March 11th. Finally, UBS Group upgraded shares of Crane from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $157.00 to $190.00 in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and an average target price of $178.20.

Read Our Latest Report on Crane

Crane Stock Performance

Shares of CR opened at $175.17 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock has a 50-day moving average of $151.76 and a two-hundred day moving average of $160.80. The stock has a market cap of $10.07 billion, a P/E ratio of 23.20, a P/E/G ratio of 1.93 and a beta of 1.28. Crane has a one year low of $127.04 and a one year high of $188.52.

Crane (NYSE:CRGet Free Report) last posted its quarterly earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $557.60 million during the quarter, compared to analyst estimates of $546.93 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Crane’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $1.22 EPS. As a group, research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. Crane’s dividend payout ratio (DPR) is currently 15.94%.

Crane Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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