The Manufacturers Life Insurance Company cut its stake in Crane Co. (NYSE:CR) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,788 shares of the conglomerate’s stock after selling 2,294 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Crane were worth $7,584,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in CR. Adviser Investments LLC bought a new stake in Crane during the first quarter valued at approximately $193,000. JOYN Advisors Inc. bought a new stake in Crane during the fourth quarter valued at approximately $213,000. CHICAGO TRUST Co NA bought a new stake in Crane during the first quarter valued at approximately $230,000. Cambridge Investment Research Advisors Inc. bought a new stake in Crane during the first quarter valued at approximately $358,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Crane during the fourth quarter valued at approximately $375,000. Institutional investors own 69.21% of the company’s stock.
Shares of Crane opened at $79.50 on Tuesday, MarketBeat.com reports. The company has a current ratio of 1.79, a quick ratio of 1.35 and a debt-to-equity ratio of 0.79. Crane Co. has a 1-year low of $71.23 and a 1-year high of $102.65. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.49 and a beta of 1.21.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, April 23rd. The conglomerate reported $1.31 earnings per share 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 business had revenue of $799.00 million for the quarter, compared to the consensus estimate of $802.47 million. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. equities research analysts predict that Crane Co. will post 5.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Thursday, May 31st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, May 30th. Crane’s dividend payout ratio (DPR) is presently 30.91%.
Several analysts recently issued reports on CR shares. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 price target on shares of Crane in a report on Monday, March 12th. UBS Group raised shares of Crane from a “neutral” rating to a “positive” rating in a report on Wednesday, April 25th. DA Davidson initiated coverage on shares of Crane in a report on Wednesday, March 21st. They set a “buy” rating and a $108.00 price target on the stock. Finally, Susquehanna Bancshares raised shares of Crane from a “neutral” rating to a “positive” rating and set a $104.00 price target on the stock in a report on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. Crane presently has an average rating of “Buy” and an average price target of $105.89.
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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