Assenagon Asset Management S.A. Increases Stake in Crane Co. (CR)

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Assenagon Asset Management S.A. grew its stake in shares of Crane Co. (NYSE:CR) by 367.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 144,377 shares of the conglomerate’s stock after buying an additional 113,497 shares during the period. Assenagon Asset Management S.A.’s holdings in Crane were worth $14,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CR. BlackRock Inc. lifted its holdings in shares of Crane by 3.0% during the 2nd quarter. BlackRock Inc. now owns 4,431,531 shares of the conglomerate’s stock valued at $355,098,000 after acquiring an additional 128,447 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Crane by 7.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,423,710 shares of the conglomerate’s stock valued at $132,035,000 after acquiring an additional 103,741 shares in the last quarter. FMR LLC lifted its holdings in shares of Crane by 37.2% during the 2nd quarter. FMR LLC now owns 1,205,673 shares of the conglomerate’s stock valued at $96,610,000 after acquiring an additional 326,859 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Crane by 7.5% during the 2nd quarter. Victory Capital Management Inc. now owns 986,256 shares of the conglomerate’s stock valued at $79,028,000 after acquiring an additional 68,539 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Crane by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 496,882 shares of the conglomerate’s stock valued at $39,815,000 after acquiring an additional 26,365 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

In other Crane news, insider Brendan Curran sold 3,000 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $91.07, for a total value of $273,210.00. Following the transaction, the insider now owns 14,346 shares in the company, valued at approximately $1,306,490.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley Ellis sold 11,763 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $90.53, for a total transaction of $1,064,904.39. Following the completion of the transaction, the insider now owns 164,937 shares in the company, valued at approximately $14,931,746.61. The disclosure for this sale can be found here. Insiders sold a total of 17,763 shares of company stock worth $1,607,454 in the last quarter. 3.00% of the stock is currently owned by company insiders.

NYSE:CR opened at $86.81 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.19 and a debt-to-equity ratio of 0.61. The firm has a market cap of $5.18 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25. Crane Co. has a twelve month low of $78.93 and a twelve month high of $102.65.

Crane (NYSE:CR) last posted its earnings results on Monday, October 22nd. The conglomerate reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.16. Crane had a net margin of 6.76% and a return on equity of 23.29%. The business had revenue of $855.80 million for the quarter, compared to analyst estimates of $855.87 million. During the same quarter in the previous year, the business posted $1.13 EPS. The business’s quarterly revenue was up 23.0% on a year-over-year basis. Sell-side analysts forecast that Crane Co. will post 5.87 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.61%. Crane’s dividend payout ratio is currently 30.91%.

CR has been the topic of several recent research reports. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. UBS Group lifted their target price on shares of Crane from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Stifel Nicolaus lifted their target price on shares of Crane from $115.00 to $117.00 and gave the company a “buy” rating in a report on Monday, October 8th. Finally, ValuEngine upgraded shares of Crane from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $108.13.

Crane 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.

See Also: How are institutional investors different from individual investors?

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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