Diversify Advisory Services LLC Increases Position in Crane (NYSE:CR)

Diversify Advisory Services LLC has increased its holdings in Crane Company (NYSE:CR – Free Report) by 23.0% during the fourth quarter, as disclosed in its latest filing with the Securities and Exchange Commission. Following this acquisition, the firm now owns 2,429 shares of Crane's stock, after purchasing an additional 454 shares in the same period. The value of Diversify Advisory Services LLC's holdings in Crane is now estimated to be $365,000, according to their most recent SEC submission.

In addition to Diversify Advisory Services, several other institutional investors and hedge funds have also engaged in buying and selling shares of Crane recently. For instance, Matrix Trust Co established a new position in Crane in the third quarter, investing approximately $25,000. V Square Quantitative Management LLC also entered a new position in Crane during the third quarter with an investment of about $28,000. Similarly, ORG Wealth Partners LLC purchased a new stake in Crane during this time, valued at around $30,000. UMB Bank n.a. significantly lifted its holdings in Crane by 81.8%, now owning 220 shares valued at $35,000 after acquiring 99 more shares in the last quarter. Quarry LP also initiated a new stake in Crane in the third quarter, valued at roughly $37,000. Overall, hedge funds and other institutional investors hold approximately 75.14% of the company's stock.

Analysts Forecast New Price Targets

Recent reports from various brokerages have provided updated price targets for Crane. UBS Group raised its price target on Crane shares from $152.00 to $157.00, maintaining a "neutral" rating in a release dated January 3rd. On the other hand, Stifel Nicolaus downgraded its rating on the stock from "buy" to "hold" while setting a price target of $176.00 on November 18th. Furthermore, Deutsche Bank Aktiengesellschaft increased its price objective for Crane from $175.00 to $182.00, assigning a "buy" rating in a report published on October 3rd. Overall, two analysts have given a hold rating, while five analysts have assigned buy ratings, leading to a consensus rating of "Moderate Buy" with an average target price of $168.00 according to MarketBeat.com.

Current Stock Performance of Crane

As of Thursday, Crane shares were trading down by 0.5%, opening at $161.72. The company's 50-day moving average stands at $164.46, while its 200-day moving average is $158.00. Financial indicators show that Crane has a quick ratio of 0.88, a current ratio of 1.18, and a debt-to-equity ratio of 0.29. The stock has recorded a 12-month low of $110.49 and a high of $188.52. The market capitalization of Crane is approximately $9.26 billion, with a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.93, and a beta of 1.22.

Crane Company recently announced its quarterly earnings on October 28th. The firm reported earnings per share (EPS) of $1.38, surpassing the consensus estimate of $1.32 by $0.06. Crane reported a net margin of 13.10% and a return on equity of 24.45%. The revenue for the quarter hit $597.20 million, slightly above the expected revenue of $594.45 million. Compared to the same quarter last year, Crane's revenue showed a year-over-year increase of 12.7%. Analysts predict that Crane will post an EPS of 7.87 for the current year.

Crane's Dividend Announcement

Additionally, Crane has announced a quarterly dividend that was paid to shareholders on December 11th. The dividend issued was $0.205, awarded to those on record as of November 29th. This translates to an annualized dividend of $0.82 and a yield of 0.51%. The ex-dividend date for this payment was also set for November 29th. Currently, Crane’s dividend payout ratio is reported to be 18.06%.

About Crane Company

Crane Company, along with its subsidiaries, is engaged in the manufacture and sale of engineered industrial products. Its operations are spread across the United States, Canada, the United Kingdom, Continental Europe, and other international markets. Crane functions in three primary segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.

Crane, Investment, Stock