3,930 Shares in Crane Co. (CR) Acquired by First Financial Corp IN
First Financial Corp IN purchased a new stake in Crane Co. (NYSE:CR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,930 shares of the conglomerate’s stock, valued at approximately $294,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its position 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 valued at $147,000 after buying an additional 944 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Crane by 234.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,498 shares of the conglomerate’s stock valued at $158,000 after buying an additional 1,750 shares during the period. Silvercrest Asset Management Group LLC bought a new position in shares of Crane during the fourth quarter valued at about $216,000. Stanley Laman Group Ltd. bought a new position in shares of Crane during the third quarter valued at about $192,000. Finally, Argyle Capital Management Inc. bought a new position in shares of Crane during the third quarter valued at about $202,000. Institutional investors own 68.63% of the company’s stock.
Crane Co. (NYSE:CR) traded up 0.11% during mid-day trading on Tuesday, reaching $74.89. The company had a trading volume of 197,115 shares. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 36.18 and a beta of 1.19. Crane Co. has a 12-month low of $53.40 and a 12-month high of $78.93. The firm has a 50-day moving average price of $74.04 and a 200 day moving average price of $71.84.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, January 30th. The conglomerate reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.04. Crane had a net margin of 4.47% and a return on equity of 20.23%. The firm earned $681 million during the quarter, compared to the consensus estimate of $664.63 million. During the same period last year, the firm earned $1.12 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Analysts expect that Crane Co. will post $4.44 EPS for the current year.
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Several brokerages have recently issued reports on CR. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating in a report on Thursday, February 2nd. TheStreet downgraded shares of Crane from a “b+” rating to a “c+” rating in a report on Tuesday, January 31st. Seaport Global Securities downgraded shares of Crane from an “accumulate” rating to a “neutral” rating and upped their price target for the stock from $71.00 to $72.00 in a report on Wednesday, February 1st. William Blair began coverage on shares of Crane in a report on Thursday, February 2nd. They set a “market perform” rating for the company. Finally, Oppenheimer Holdings Inc. upgraded shares of Crane from a “market perform” rating to an “outperform” rating and set a $82.00 price target for the company in a report on Wednesday, February 1st. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $68.08.
In other news, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $74.37, for a total transaction of $148,740.00. Following the completion of the sale, the director now directly owns 2,110 shares of the company’s stock, valued at approximately $156,920.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brendan Curran sold 12,632 shares of Crane stock in a transaction on Friday, February 24th. The stock was sold at an average price of $71.21, for a total transaction of $899,524.72. Following the sale, the insider now directly owns 16,424 shares of the company’s stock, valued at $1,169,553.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,487 shares of company stock valued at $5,158,880. Insiders own 3.00% of the company’s stock.
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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