Dupont Capital Management Corp cut its stake in Crane Co. (NYSE:CR) by 84.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the conglomerate’s stock after selling 2,815 shares during the period. Dupont Capital Management Corp’s holdings in Crane were worth $42,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of CR. JPMorgan Chase & Co. raised its stake in Crane by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 327,019 shares of the conglomerate’s stock worth $32,162,000 after buying an additional 4,442 shares in the last quarter. Teachers Advisors LLC grew its holdings in Crane by 8.8% in the third quarter. Teachers Advisors LLC now owns 451,444 shares of the conglomerate’s stock worth $44,400,000 after purchasing an additional 36,681 shares during the period. Vanguard Group Inc grew its holdings in Crane by 1.0% in the third quarter. Vanguard Group Inc now owns 4,426,179 shares of the conglomerate’s stock worth $435,315,000 after purchasing an additional 41,941 shares during the period. Virtu Financial LLC purchased a new stake in Crane in the fourth quarter worth about $482,000. Finally, Meeder Asset Management Inc. purchased a new stake in Crane in the fourth quarter worth about $821,000. 69.16% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP James A. Lavish sold 5,150 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $84.94, for a total transaction of $437,441.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Louis V. Pinkham sold 55,103 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $85.03, for a total transaction of $4,685,408.09. The disclosure for this sale can be found here. Corporate insiders own 3.39% of the company’s stock.
Shares of CR opened at $85.41 on Thursday. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Crane Co. has a fifty-two week low of $67.18 and a fifty-two week high of $100.14.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 29th. The conglomerate reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.06. Crane had a net margin of 10.34% and a return on equity of 24.49%. The business had revenue of $831.70 million for the quarter, compared to analysts’ expectations of $792.39 million. During the same quarter in the prior year, the company earned $1.31 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that Crane Co. will post 6.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, May 30th. Crane’s payout ratio is 26.04%.
A number of equities research analysts have weighed in on CR shares. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating in a report on Monday, April 8th. CIBC restated a “hold” rating on shares of Crane in a report on Friday, February 1st. Desjardins restated a “buy” rating on shares of Crane in a report on Thursday, March 7th. UBS Group upped their price objective on shares of Crane from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, ValuEngine upgraded shares of Crane from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $96.45.
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Crane Company Profile
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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