Crane Company (NYSE:CR) Shares Bought by Fmr LLC

FMR LLC boosted its position in Crane Company (NYSE:CR) by 338.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,628 shares of the conglomerate’s stock after buying an additional 156,454 shares during the period. FMR LLC owned approximately 0.34% of Crane worth $16,085,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC grew its holdings in shares of Crane by 33.3% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock valued at $127,000 after acquiring an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after acquiring an additional 140 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Crane by 221.0% in the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock valued at $148,000 after acquiring an additional 1,282 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Crane in the second quarter valued at approximately $204,000. Finally, South State Corp purchased a new position in Crane in the second quarter valued at approximately $229,000. 69.02% of the stock is owned by institutional investors and hedge funds.

Crane Company (CR) traded down $0.01 during trading on Friday, hitting $82.67. 173,400 shares of the stock were exchanged, compared to its average volume of 321,359. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $4,907.05, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.81 and a beta of 1.17. Crane Company has a one year low of $67.62 and a one year high of $86.67.

Crane (NYSE:CR) last posted its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million during the quarter, compared to analyst estimates of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. Crane’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. sell-side analysts anticipate that Crane Company will post 4.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.60%. Crane’s dividend payout ratio is currently 59.19%.

Several equities analysts recently commented on the company. Canaccord Genuity reiterated a “buy” rating on shares of Crane in a research note on Friday, November 3rd. Seaport Global Securities upgraded Crane from a “neutral” rating to a “buy” rating and increased their target price for the stock from $78.00 to $95.00 in a research report on Thursday, October 26th. Bank of America Corporation increased their target price on Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $92.00 target price (up previously from $88.00) on shares of Crane in a research report on Wednesday, October 25th. Finally, Wolfe Research cut shares of Crane from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Crane currently has a consensus rating of “Buy” and an average price target of $92.14.

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In other Crane news, VP Augustus I. Dupont sold 3,556 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $83.89, for a total value of $298,312.84. Following the completion of the sale, the vice president now directly owns 80,560 shares in the company, valued at $6,758,178.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the sale, the vice president now owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,403 shares of company stock valued at $2,693,998. 3.10% of the stock is currently owned by company insiders.

Crane Profile

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.

Institutional Ownership by Quarter for Crane (NYSE:CR)

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