Global X Management Co. LLC Grows Holdings in Crane Co. (CR)

Global X Management Co. LLC raised its position in shares of Crane Co. (NYSE:CR) by 75.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,085 shares of the conglomerate’s stock after purchasing an additional 1,755 shares during the period. Global X Management Co. LLC’s holdings in Crane were worth $364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC raised its position in Crane by 54.2% during the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after purchasing an additional 800 shares in the last quarter. Fruth Investment Management purchased a new stake in Crane during the fourth quarter valued at about $205,000. Vident Investment Advisory LLC purchased a new stake in Crane during the third quarter valued at about $209,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Crane by 51.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock valued at $240,000 after purchasing an additional 917 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Crane during the fourth quarter valued at about $267,000. Institutional investors and hedge funds own 68.81% of the company’s stock.

In related news, Director E Thayer Bigelow sold 1,125 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.74, for a total transaction of $106,582.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Augustus I. Dupont sold 16,396 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $97.74, for a total value of $1,602,545.04. Following the transaction, the vice president now owns 102,994 shares in the company, valued at approximately $10,066,633.56. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

CR has been the topic of several analyst reports. Canaccord Genuity decreased their price objective on Crane from $100.00 to $99.95 in a report on Wednesday, January 31st. AltaCorp Capital reiterated a “buy” rating on shares of Crane in a report on Monday, January 15th. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, Oppenheimer reiterated a “buy” rating on shares of Crane in a report on Tuesday, December 5th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $106.28.

Crane Co. (CR) opened at $94.12 on Friday. Crane Co. has a twelve month low of $70.56 and a twelve month high of $102.65. The company has a market capitalization of $5,550.40, a PE ratio of 33.14, a PEG ratio of 1.33 and a beta of 1.20. The company has a quick ratio of 1.40, a current ratio of 1.81 and a debt-to-equity ratio of 0.37.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. Crane had a return on equity of 20.66% and a net margin of 6.17%. The company had revenue of $714.20 million for the quarter, compared to the consensus estimate of $702.50 million. During the same quarter in the previous year, the business earned $1.02 EPS. Crane’s revenue was up 4.8% compared to the same quarter last year. research analysts expect that Crane Co. will post 5.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, February 27th. This is an increase from Crane’s previous quarterly dividend of $0.33. Crane’s payout ratio is currently 46.48%.

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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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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