Crane (NYSE:CR) Shares Sold by Synovus Financial Corp

Synovus Financial Corp trimmed its position in shares of Crane (NYSE:CR) by 36.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,958 shares of the conglomerate’s stock after selling 5,147 shares during the quarter. Synovus Financial Corp’s holdings in Crane were worth $1,418,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in Crane by 19.9% during the 3rd quarter. Tidal Investments LLC now owns 6,017 shares of the conglomerate’s stock worth $952,000 after purchasing an additional 997 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Crane in the third quarter valued at approximately $86,000. World Investment Advisors LLC purchased a new stake in shares of Crane during the 3rd quarter worth $4,459,000. Coldstream Capital Management Inc. grew its position in Crane by 2.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,530 shares of the conglomerate’s stock worth $561,000 after buying an additional 96 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Crane by 1.2% in the 3rd quarter. M&T Bank Corp now owns 7,336 shares of the conglomerate’s stock worth $1,161,000 after acquiring an additional 86 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CR. Stifel Nicolaus downgraded Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of 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 stock. According to MarketBeat.com, Crane presently has an average rating of “Moderate Buy” and an average target price of $167.00.

Crane Stock Performance

NYSE:CR opened at $164.97 on Monday. Crane has a 1-year low of $106.89 and a 1-year high of $188.52. The firm has a 50 day simple moving average of $168.19 and a 200-day simple moving average of $156.00. The firm has a market cap of $9.44 billion, a PE ratio of 36.34, a P/E/G ratio of 1.93 and a beta of 0.93. 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 (NYSE:CR) last posted its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) 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 business had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, equities analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were issued a $0.205 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.50%. Crane’s payout ratio is 18.06%.

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.