Fmr LLC lifted its position in Crane Co. (NYSE:CR) by 37.2% in the 2nd quarter, Holdings Channel reports. The fund owned 1,205,673 shares of the conglomerate’s stock after acquiring an additional 326,859 shares during the period. Fmr LLC’s holdings in Crane were worth $96,610,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV bought a new stake in shares of Crane in the 2nd quarter worth about $156,000. Adviser Investments LLC bought a new stake in Crane during the 1st quarter valued at about $193,000. CHICAGO TRUST Co NA bought a new stake in Crane during the 1st quarter valued at about $230,000. Sawtooth Solutions LLC bought a new stake in Crane during the 2nd quarter valued at about $233,000. Finally, Hartford Investment Management Co. bought a new stake in Crane during the 2nd quarter valued at about $273,000. Hedge funds and other institutional investors own 68.33% of the company’s stock.
NYSE CR opened at $95.80 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.65. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. Crane Co. has a one year low of $76.21 and a one year high of $102.65.
Crane (NYSE:CR) last posted its earnings results on Monday, July 23rd. The conglomerate reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. The business had revenue of $851.00 million for the quarter, compared to the consensus estimate of $834.45 million. Crane had a net margin of 6.17% and a return on equity of 21.72%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. equities research analysts expect that Crane Co. will post 5.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 31st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Thursday, August 30th. Crane’s dividend payout ratio (DPR) is 30.91%.
A number of equities research analysts recently weighed in on CR shares. UBS Group lifted their price objective on shares of Crane from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Friday, July 27th. DA Davidson set a $111.00 price objective on shares of Crane and gave the company a “buy” rating in a report on Friday, May 25th. Finally, ValuEngine lowered shares of Crane from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Crane has a consensus rating of “Buy” and an average target price of $107.00.
In other Crane news, insider Brendan Curran sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $91.07, for a total transaction of $273,210.00. Following the transaction, the insider now owns 14,346 shares of the company’s stock, valued at approximately $1,306,490.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Curtis A. Baron, Jr. sold 5,199 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $90.87, for a total transaction of $472,433.13. Following the transaction, the vice president now directly owns 7,230 shares in the company, valued at approximately $656,990.10. The disclosure for this sale can be found here. Insiders have sold a total of 83,531 shares of company stock worth $7,477,261 in the last three months. Insiders own 3.00% of the company’s stock.
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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