Carret Asset Management LLC continued to hold its stake in Crane Co. (NYSE:CR) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,490 shares of the conglomerate’s stock at the end of the first quarter. Carret Asset Management LLC’s holdings in Crane were worth $336,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Crane by 80.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,114 shares of the conglomerate’s stock worth $147,000 after buying an additional 944 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in shares of Crane during the fourth quarter worth $216,000. Stanley Laman Group Ltd. acquired a new stake in shares of Crane during the third quarter worth $192,000. Janney Capital Management LLC acquired a new stake in shares of Crane during the first quarter worth $227,000. Finally, World Asset Management Inc raised its stake in shares of Crane by 2.4% in the first quarter. World Asset Management Inc now owns 3,093 shares of the conglomerate’s stock worth $231,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 68.63% of the company’s stock.
Shares of Crane Co. (NYSE:CR) traded up 0.59% during mid-day trading on Friday, reaching $77.21. The company’s stock had a trading volume of 254,371 shares. The firm has a market capitalization of $4.59 billion, a P/E ratio of 35.08 and a beta of 1.19. Crane Co. has a 12 month low of $54.05 and a 12 month high of $82.35. The company has a 50 day moving average of $77.19 and a 200-day moving average of $74.43.
Crane (NYSE:CR) last announced its earnings results on Monday, April 24th. The conglomerate reported $1.05 EPS for the quarter, topping the consensus estimate of $1.00 by $0.05. The business had revenue of $673.40 million for the quarter, compared to the consensus estimate of $655.84 million. Crane had a return on equity of 20.23% and a net margin of 4.47%. Crane’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. Equities research analysts forecast that Crane Co. will post $4.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Wednesday, May 31st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Friday, May 26th. Crane’s payout ratio is currently 64.08%.
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A number of brokerages have weighed in on CR. TheStreet upgraded Crane from a “c+” rating to a “b+” rating in a research note on Monday, April 24th. Stifel Nicolaus lifted their target price on Crane from $80.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, April 26th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $90.00 target price (up previously from $82.00) on shares of Crane in a research report on Monday, May 1st. Canaccord Genuity upgraded Crane from a “hold” rating to a “buy” rating and lifted their target price for the stock from $78.00 to $92.00 in a research report on Tuesday. Finally, William Blair upgraded Crane from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $72.36.
In other Crane news, insider Thomas J. Craney sold 4,500 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $80.45, for a total transaction of $362,025.00. Following the transaction, the insider now owns 19,562 shares of the company’s stock, valued at approximately $1,573,762.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brendan Curran sold 12,632 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $71.21, for a total value of $899,524.72. Following the transaction, the insider now directly owns 16,424 shares in the company, valued at approximately $1,169,553.04. The disclosure for this sale can be found here. Insiders sold a total of 39,261 shares of company stock worth $3,025,932 over the last three months. 3.00% of the stock is owned by company insiders.
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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