Mutual of America Capital Management LLC Reduces Holdings in Crane (NYSE:CR)

Mutual of America Capital Management LLC reduced its stake in Crane (NYSE:CR) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,798 shares of the conglomerate’s stock after selling 866 shares during the period. Mutual of America Capital Management LLC owned about 0.12% of Crane worth $8,891,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC purchased a new position in Crane during the 3rd quarter valued at about $2,997,000. Wallace Advisory Group LLC purchased a new position in shares of Crane during the fourth quarter valued at approximately $290,000. Raymond James Trust N.A. bought a new position in shares of Crane during the fourth quarter valued at approximately $203,000. Pacer Advisors Inc. lifted its stake in Crane by 62.3% in the fourth quarter. Pacer Advisors Inc. now owns 9,202 shares of the conglomerate’s stock worth $1,087,000 after acquiring an additional 3,533 shares during the period. Finally, Cadent Capital Advisors LLC bought a new stake in Crane in the fourth quarter valued at $246,000. Institutional investors own 75.14% of the company’s stock.

Crane Stock Performance

CR stock traded up $0.04 during midday trading on Tuesday, hitting $142.48. 34,610 shares of the stock traded hands, compared to its average volume of 231,056. 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 $82.57 and a 1-year high of $150.01. The stock’s fifty day simple moving average is $144.37 and its 200-day simple moving average is $132.28. The firm has a market cap of $8.14 billion, a P/E ratio of 38.19, a PEG ratio of 1.93 and a beta of 0.80.

Crane (NYSE:CR) last announced its earnings results 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 analyst estimates of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. On average, analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, May 31st. Crane’s payout ratio is 21.98%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. DA Davidson lifted their price objective on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group raised their price objective on Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $157.00 target price on shares of Crane in a research note on Wednesday, May 15th. Finally, Bank of America upped their price objective on shares of Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.67.

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.