Picton Mahoney Asset Management Invests $90,000 in Crane (NYSE:CR)

Picton Mahoney Asset Management acquired a new position in Crane (NYSE:CR) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 760 shares of the conglomerate’s stock, valued at approximately $90,000.

A number of other hedge funds have also recently made changes to their positions in CR. Fifth Third Bancorp lifted its stake in shares of 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 during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Crane by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 7,926 shares of the conglomerate’s stock valued at $936,000 after purchasing an additional 99 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Crane by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 61,179 shares of the conglomerate’s stock valued at $7,228,000 after purchasing an additional 216 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Crane by 0.9% in the 4th quarter. Mutual of America Capital Management LLC now owns 66,664 shares of the conglomerate’s stock valued at $7,876,000 after purchasing an additional 620 shares during the last quarter. Finally, Venture Visionary Partners LLC lifted its stake in shares of Crane by 3.0% in the 4th quarter. Venture Visionary Partners LLC now owns 27,491 shares of the conglomerate’s stock valued at $3,248,000 after purchasing an additional 809 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Crane Trading Down 0.3 %

NYSE CR opened at $144.18 on Friday. Crane has a one year low of $71.33 and a one year high of $146.68. 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 company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The company’s 50-day simple moving average is $135.01 and its two-hundred day simple moving average is $119.91.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Equities analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be issued a $0.205 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.82 dividend on an annualized basis and a yield of 0.57%. Crane’s dividend payout ratio is presently 21.98%.

Analyst Upgrades and Downgrades

CR has been the subject of a number of research analyst reports. Bank of America raised their price target on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Stifel Nicolaus boosted their target price on shares of Crane from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. DA Davidson boosted their price objective 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. Finally, Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Crane presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.00.

Crane 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.