Fiduciary Trust Co. purchased a new position in shares of Crane Co. (NYSE:CR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,500 shares of the conglomerate’s stock, valued at approximately $417,000.
A number of other institutional investors have also recently added to or reduced their stakes in CR. Virtus Fund Advisers LLC purchased a new position in Crane during the fourth quarter worth about $29,286,000. Victory Capital Management Inc. boosted its holdings in Crane by 31.9% during the fourth quarter. Victory Capital Management Inc. now owns 874,707 shares of the conglomerate’s stock worth $78,041,000 after purchasing an additional 211,710 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in Crane by 439.7% during the fourth quarter. Thrivent Financial For Lutherans now owns 220,104 shares of the conglomerate’s stock worth $19,638,000 after purchasing an additional 179,324 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Crane by 153.0% during the fourth quarter. Wells Fargo & Company MN now owns 293,143 shares of the conglomerate’s stock worth $26,154,000 after purchasing an additional 177,275 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Crane by 456.2% during the fourth quarter. Alliancebernstein L.P. now owns 162,943 shares of the conglomerate’s stock worth $14,538,000 after purchasing an additional 133,649 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.
In other news, insider Brendan Curran sold 16,356 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $93.87, for a total value of $1,535,337.72. Following the sale, the insider now owns 27,702 shares of the company’s stock, valued at $2,600,386.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James A. Lavish sold 12,984 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $94.90, for a total transaction of $1,232,181.60. Following the completion of the sale, the vice president now directly owns 16,997 shares in the company, valued at approximately $1,613,015.30. The disclosure for this sale can be found here. In the last three months, insiders sold 30,465 shares of company stock worth $2,874,102. Insiders own 3.00% of the company’s stock.
Crane opened at $85.78 on Thursday, according to MarketBeat. Crane Co. has a 12-month low of $85.97 and a 12-month high of $86.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.35 and a current ratio of 1.79. The company has a market capitalization of $5.11 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.47 and a beta of 1.23.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, April 23rd. The conglomerate reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.04. Crane had a net margin of 6.09% and a return on equity of 21.08%. The company had revenue of $799.00 million for the quarter, compared to analyst estimates of $802.47 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. research analysts predict that Crane Co. will post 5.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, May 30th. Crane’s dividend payout ratio (DPR) is currently 30.91%.
A number of research analysts have weighed in on CR shares. Canaccord Genuity dropped their target price on shares of Crane from $100.00 to $99.95 in a research note on Wednesday, January 31st. Zacks Investment Research cut shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Stifel Nicolaus upgraded shares of Crane from a “hold” rating to a “buy” rating and boosted their target price for the company from $99.00 to $113.00 in a research note on Wednesday, January 31st. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, UBS started coverage on shares of Crane in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $100.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $106.67.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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