State of Alaska Department of Revenue bought a new stake in shares of Crane Co. (NYSE:CR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,000 shares of the conglomerate’s stock, valued at approximately $267,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Howe & Rusling Inc. lifted its position in shares of Crane by 88.5% during the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after buying an additional 1,057 shares during the last quarter. ClariVest Asset Management LLC lifted its stake in shares of Crane by 54.2% during the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after buying an additional 800 shares in the last quarter. Fruth Investment Management purchased a new stake in shares of Crane during the 4th quarter valued at approximately $205,000. Vident Investment Advisory LLC purchased a new stake in shares of Crane during the 3rd quarter valued at approximately $209,000. Finally, Nomura Holdings Inc. purchased a new stake in Crane in the 2nd quarter worth approximately $248,000. Institutional investors own 67.41% of the company’s stock.
In other news, VP Augustus I. Dupont sold 16,396 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $97.74, for a total value of $1,602,545.04. Following the completion of the sale, the vice president now directly owns 102,994 shares of the company’s stock, valued at approximately $10,066,633.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.
CR has been the topic of several recent analyst reports. Canaccord Genuity lowered their target price on shares of Crane from $100.00 to $99.95 in a research note on Wednesday, January 31st. AltaCorp Capital reissued a “buy” rating on shares of Crane in a report on Monday, January 15th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, Oppenheimer reissued a “buy” rating on shares of Crane in a report on Tuesday, December 5th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Crane presently has an average rating of “Buy” and an average target price of $106.28.
Shares of Crane Co. (CR) traded up $1.93 during trading on Wednesday, reaching $92.56. 143,429 shares of the company’s stock were exchanged, compared to its average volume of 335,096. The company has a market cap of $5,400.00, a price-to-earnings ratio of 31.91, a PEG ratio of 1.29 and a beta of 1.20. Crane Co. has a 1-year low of $70.56 and a 1-year high of $102.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.40 and a current ratio of 1.81.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The business had revenue of $714.20 million for the quarter, compared to analyst estimates of $702.50 million. During the same quarter last year, the firm earned $1.02 EPS. The company’s revenue was up 4.8% on a year-over-year basis. sell-side analysts expect that Crane Co. will post 5.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. This is a boost from Crane’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, February 27th. Crane’s dividend payout ratio (DPR) is currently 46.48%.
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Crane Company 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.
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