Canada Pension Plan Investment Board decreased its position in shares of Crane Company (NYSE:CR) by 59.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,200 shares of the conglomerate’s stock after selling 87,500 shares during the period. Canada Pension Plan Investment Board owned about 0.10% of Crane worth $4,735,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in shares of Crane by 7.8% during the second quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock worth $4,288,000 after buying an additional 3,894 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Crane by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock valued at $51,002,000 after purchasing an additional 11,670 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Crane by 23.7% in the second quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock valued at $46,237,000 after purchasing an additional 111,581 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Crane in the second quarter valued at approximately $204,000. Finally, American Century Companies Inc. increased its holdings in shares of Crane by 41.9% in the second quarter. American Century Companies Inc. now owns 98,750 shares of the conglomerate’s stock valued at $7,839,000 after purchasing an additional 29,150 shares in the last quarter. 68.91% of the stock is owned by institutional investors.
In other Crane news, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction on Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Augustus I. Dupont sold 11,130 shares of Crane stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the sale, the vice president now owns 84,116 shares in the company, valued at $7,257,528.48. The disclosure for this sale can be found here. Insiders sold a total of 33,403 shares of company stock worth $2,693,998 over the last ninety days. 3.10% of the stock is currently owned by insiders.
A number of analysts recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating on shares of Crane in a report on Friday, November 3rd. Seaport Global Securities raised shares of Crane from a “neutral” rating to a “buy” rating and raised their price target for the company from $78.00 to $95.00 in a report on Thursday, October 26th. Bank of America Corporation raised their price target on shares of Crane from $90.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $92.00 price target (up previously from $88.00) on shares of Crane in a report on Wednesday, October 25th. Finally, Wolfe Research lowered shares of Crane from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Crane currently has a consensus rating of “Buy” and a consensus price target of $92.14.
Crane Company (NYSE CR) opened at $82.65 on Wednesday. The firm has a market cap of $4,896.37, a price-to-earnings ratio of 18.88, a PEG ratio of 1.81 and a beta of 1.17. Crane Company has a 52-week low of $67.62 and a 52-week high of $86.67. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $695.90 million for the quarter, compared to analysts’ expectations of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $1.07 earnings per share. research analysts anticipate that Crane Company will post 4.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.32 annualized dividend and a yield of 1.60%. Crane’s dividend payout ratio is currently 59.19%.
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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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