Crane (NYSE:CR) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC reduced its stake in shares of Crane (NYSE:CR) by 12.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,860 shares of the conglomerate’s stock after selling 550 shares during the quarter. Carret Asset Management LLC’s holdings in Crane were worth $611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Michigan Retirement System increased its position in shares of Crane by 2.6% during the first quarter. State of Michigan Retirement System now owns 11,972 shares of the conglomerate’s stock worth $1,618,000 after purchasing an additional 300 shares in the last quarter. InTrack Investment Management Inc acquired a new position in Crane during the first quarter worth approximately $210,000. Norden Group LLC boosted its holdings in shares of Crane by 1,363.7% in the first quarter. Norden Group LLC now owns 89,432 shares of the conglomerate’s stock valued at $12,086,000 after acquiring an additional 83,322 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Crane by 9.1% during the first quarter. Commonwealth Equity Services LLC now owns 8,447 shares of the conglomerate’s stock worth $1,141,000 after acquiring an additional 706 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Crane by 36.5% during the first quarter. Van ECK Associates Corp now owns 16,999 shares of the conglomerate’s stock worth $2,297,000 after acquiring an additional 4,546 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Stock Performance

Shares of CR opened at $149.06 on Monday. The stock has a market capitalization of $8.52 billion, a P/E ratio of 39.96, a P/E/G ratio of 1.93 and a beta of 0.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 1 year low of $90.91 and a 1 year high of $163.48. The company’s fifty day moving average is $154.09 and its two-hundred day moving average is $148.18.

Crane (NYSE:CR) last issued its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.06. The business had revenue of $581.00 million for the quarter, compared to the consensus estimate of $568.33 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. On average, sell-side analysts predict that Crane will post 7.87 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has 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 an average target price of $157.33.

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.