The Manufacturers Life Insurance Company Cuts Stock Position in Crane (NYSE:CR)

by · The Markets Daily

The Manufacturers Life Insurance Company trimmed its stake in shares of Crane (NYSE:CR – Free Report) by 15.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,447 shares of the conglomerate’s stock after selling 38,417 shares during the period. The Manufacturers Life Insurance Company’s holdings in Crane were worth $33,626,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CR. Matrix Trust Co acquired a new stake in shares of Crane in the third quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in Crane during the 3rd quarter worth $28,000. ORG Wealth Partners LLC purchased a new stake in shares of Crane during the third quarter worth $30,000. ORG Partners LLC acquired a new stake in shares of Crane in the second quarter valued at about $31,000. Finally, UMB Bank n.a. lifted its stake in shares of Crane by 81.8% in the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock worth $35,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Performance

NYSE:CR opened at $182.08 on Friday. The company’s 50-day moving average is $164.36 and its two-hundred day moving average is $153.73. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a 1-year low of $102.80 and a 1-year high of $188.52.

Crane (NYSE:CR – Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. During the same period in the prior year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 annualized dividend and a yield of 0.45%. Crane’s dividend payout ratio (DPR) is currently 18.06%.

Wall Street Analyst Weigh In

A number of research firms have commented on CR. Stifel Nicolaus downgraded shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased their price target on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $167.00.

Check Out Our Latest Report on Crane

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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