Chesapeake Capital Corp IL Acquires 981 Shares of Crane (NYSE:CR)

Chesapeake Capital Corp IL grew its holdings in shares of Crane (NYSE:CR) by 27.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,495 shares of the conglomerate’s stock after buying an additional 981 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Crane were worth $708,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Matrix Trust Co bought a new position in shares of Crane during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in Crane in the third quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new position in Crane in the third quarter worth approximately $30,000. Covestor Ltd grew its stake in Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 131 shares in the last quarter. Finally, ORG Partners LLC bought a new position in Crane in the second quarter worth approximately $31,000. Institutional investors own 75.14% of the company’s stock.

Crane Stock Down 0.2 %

Crane stock opened at $173.50 on Friday. The business has a fifty day moving average of $158.85 and a two-hundred day moving average of $151.43. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a market cap of $9.93 billion, a P/E ratio of 38.22, a P/E/G ratio of 1.93 and a beta of 0.81. Crane has a twelve month low of $102.80 and a twelve month high of $180.87.

Crane (NYSE:CR) last posted its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. The company had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.47%. Crane’s dividend payout ratio is currently 18.06%.

Analyst Upgrades and Downgrades

CR has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.33.

About Crane

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.