Jefferies Group LLC bought a new stake in shares of Crane Co. (NYSE:CR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,243 shares of the conglomerate’s stock, valued at approximately $914,000.
A number of other institutional investors have also added to or reduced their stakes in the business. ClariVest Asset Management LLC raised its position in shares of Crane by 54.2% in the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after acquiring an additional 800 shares during the period. Fruth Investment Management acquired a new stake in shares of Crane in the 4th quarter valued at approximately $205,000. Levin Capital Strategies L.P. acquired a new stake in shares of Crane in the 4th quarter valued at approximately $208,000. JOYN Advisors Inc. acquired a new stake in shares of Crane in the 4th quarter valued at approximately $213,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of Crane in the 3rd quarter valued at approximately $209,000. Institutional investors own 69.36% of the company’s stock.
A number of analysts recently weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $110.00 price target on shares of Crane in a research report on Monday, March 12th. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Friday, March 2nd. Boenning Scattergood reiterated a “neutral” rating on shares of Crane in a research report on Monday, February 26th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Bank of America increased their price target on shares of Crane from $104.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $106.29.
In other news, VP Augustus I. Dupont sold 16,396 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the completion of the transaction, the vice president now directly owns 102,994 shares of the company’s stock, valued at approximately $10,066,633.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brendan Curran sold 16,356 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $93.87, for a total transaction of $1,535,337.72. Following the transaction, the insider now directly owns 27,702 shares of the company’s stock, valued at $2,600,386.74. The disclosure for this sale can be found here. Insiders have sold a total of 46,861 shares of company stock worth $4,476,647 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.
Shares of Crane Co. (CR) opened at $94.73 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.40 and a current ratio of 1.81. The company has a market cap of $5,650.17, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23. Crane Co. has a fifty-two week low of $70.56 and a fifty-two week high of $102.65.
Crane (NYSE:CR) last announced its earnings results on Monday, January 29th. The conglomerate reported $1.18 EPS for the quarter, topping the consensus estimate of $1.17 by $0.01. The firm had revenue of $714.20 million for the quarter, compared to the consensus estimate of $702.50 million. Crane had a net margin of 6.17% and a return on equity of 20.66%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $1.02 EPS. equities analysts anticipate that Crane Co. will post 5.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.35 per share. This is an increase from Crane’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, February 27th. Crane’s dividend payout ratio (DPR) is 49.30%.
COPYRIGHT VIOLATION WARNING: “Jefferies Group LLC Buys Shares of 10,243 Crane Co. (CR)” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/03/18/jefferies-group-llc-buys-shares-of-10243-crane-co-cr.html.
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.
Want to see what other hedge funds are holding CR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crane Co. (NYSE:CR).
Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.