Keybank National Association OH lowered its holdings in shares of Crane Company (NYSE:CR) by 26.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,390 shares of the conglomerate’s stock after selling 4,100 shares during the quarter. Keybank National Association OH’s holdings in Crane were worth $904,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado grew its holdings in shares of Crane by 0.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 9,932 shares of the conglomerate’s stock worth $788,000 after buying an additional 27 shares in the last quarter. Profund Advisors LLC grew its holdings in shares of Crane by 0.6% during the first quarter. Profund Advisors LLC now owns 6,861 shares of the conglomerate’s stock worth $513,000 after buying an additional 43 shares in the last quarter. Bragg Financial Advisors Inc grew its holdings in shares of Crane by 0.3% during the first quarter. Bragg Financial Advisors Inc now owns 27,275 shares of the conglomerate’s stock worth $2,041,000 after buying an additional 70 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Crane by 0.8% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,664 shares of the conglomerate’s stock worth $648,000 after buying an additional 71 shares in the last quarter. Finally, World Asset Management Inc grew its holdings in shares of Crane by 2.4% during 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. 70.70% of the stock is currently owned by institutional investors.
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In other news, VP Kristian Robert Salovaara sold 9,200 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $76.20, for a total value of $701,040.00. Following the completion of the transaction, the vice president now directly owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director E Thayer Bigelow sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,200 shares of company stock valued at $1,661,630. Company insiders own 3.10% of the company’s stock.
Crane Company (NYSE CR) opened at 75.72 on Friday. The firm has a 50-day moving average price of $74.50 and a 200-day moving average price of $76.77. Crane Company has a 1-year low of $59.81 and a 1-year high of $84.34. The company has a market capitalization of $4.51 billion, a P/E ratio of 34.50 and a beta of 1.11.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, hitting the consensus estimate of $1.17. The firm had revenue of $702.50 million during the quarter, compared to the consensus estimate of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. On average, analysts forecast that Crane Company will post $4.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 31st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Tuesday, August 29th. Crane’s dividend payout ratio (DPR) is presently 60.83%.
A number of research analysts recently issued reports on the company. Wolfe Research upgraded Crane from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. BidaskClub upgraded Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and set a $84.00 price objective on shares of Crane in a report on Thursday, July 6th. Finally, ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $76.88.
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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