LS Investment Advisors LLC lowered its holdings in Crane Co. (NYSE:CR) by 31.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,185 shares of the conglomerate’s stock after selling 1,442 shares during the quarter. LS Investment Advisors LLC’s holdings in Crane were worth $284,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Crane by 50.8% in the third quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock valued at $53,033,000 after buying an additional 223,225 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Crane by 13.1% in the third quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock valued at $115,195,000 after buying an additional 167,051 shares in the last quarter. FMR LLC increased its position in shares of Crane by 338.8% in the second quarter. FMR LLC now owns 202,628 shares of the conglomerate’s stock valued at $16,085,000 after buying an additional 156,454 shares in the last quarter. APG Asset Management N.V. purchased a new position in shares of Crane in the third quarter valued at $5,895,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Crane by 20.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 382,295 shares of the conglomerate’s stock valued at $30,580,000 after buying an additional 65,092 shares in the last quarter. 69.36% of the stock is owned by institutional investors.
In other Crane news, VP Augustus I. Dupont sold 16,396 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $97.74, for a total value of $1,602,545.04. Following the transaction, the vice president now directly owns 102,994 shares of the company’s stock, valued at approximately $10,066,633.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director E Thayer Bigelow sold 1,125 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.74, for a total value of $106,582.50. The disclosure for this sale can be found here. Insiders sold a total of 46,861 shares of company stock worth $4,476,647 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, January 29th. The conglomerate reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.01. The business had revenue of $714.20 million for the quarter, compared to analyst estimates of $702.50 million. Crane had a return on equity of 20.66% and a net margin of 6.17%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 EPS. equities research analysts predict that Crane Co. will post 5.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th were paid a $0.35 dividend. This is a positive change from Crane’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, February 27th. Crane’s payout ratio is currently 32.56%.
A number of research analysts have recently weighed in on the company. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Boenning Scattergood reiterated a “hold” rating on shares of Crane in a research report on Tuesday, January 30th. Canaccord Genuity reiterated a “buy” rating and set a $110.00 price objective on shares of Crane in a research report on Monday. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, AltaCorp Capital restated a “buy” rating on shares of Crane in a report on Monday, January 15th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $106.29.
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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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