Oakbrook Investments LLC lowered its position in shares of Crane Company (NYSE:CR) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,231 shares of the conglomerate’s stock after selling 110 shares during the period. Oakbrook Investments LLC’s holdings in Crane were worth $336,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. ClariVest Asset Management LLC boosted its position in shares of Crane by 15.7% in the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock worth $110,000 after buying an additional 200 shares in the last quarter. Broderick Brian C purchased a new position in shares of Crane during the first quarter worth about $202,000. Janney Capital Management LLC purchased a new position in shares of Crane during the first quarter worth about $227,000. World Asset Management Inc boosted its position 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 in the last quarter. Finally, TLP Group LLC bought a new position in shares of Crane during the first quarter valued at $254,000. 70.61% of the stock is owned by institutional investors.
Shares of Crane Company (NYSE:CR) opened at 75.14 on Thursday. The company has a 50-day moving average price of $78.84 and a 200 day moving average price of $76.78. The stock has a market capitalization of $4.48 billion, a PE ratio of 34.23 and a beta of 1.10. Crane Company has a 52 week low of $59.81 and a 52 week high of $84.34.
Crane (NYSE:CR) last released its earnings results on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.17. The firm had revenue of $702.50 million during the quarter, compared to analysts’ expectations of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. Crane’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 EPS. Equities analysts forecast that Crane Company will post $4.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.32 annualized dividend and a dividend yield of 1.76%. Crane’s dividend payout ratio is presently 60.83%.
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Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. TheStreet raised Crane from a “c+” rating to a “b+” rating in a report on Monday, April 24th. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. William Blair upgraded Crane from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 25th. Finally, BidaskClub upgraded Crane from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Crane currently has an average rating of “Buy” and an average target price of $76.88.
In other news, VP Kristian Robert Salovaara sold 9,200 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.20, for a total transaction of $701,040.00. Following the completion of the sale, the vice president now directly owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by 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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