Mesirow Financial Investment Management Equity Management boosted its position in shares of Crane Company (NYSE:CR) by 23.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,205 shares of the conglomerate’s stock after buying an additional 54,330 shares during the period. Crane accounts for 1.5% of Mesirow Financial Investment Management Equity Management’s investment portfolio, making the stock its 10th largest position. Mesirow Financial Investment Management Equity Management owned about 0.48% of Crane worth $22,720,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CR. BlackRock Inc. raised its stake in shares of Crane by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock valued at $299,129,000 after buying an additional 3,955,159 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock valued at $114,772,000 after buying an additional 369,589 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Crane by 148.3% in the first quarter. Systematic Financial Management LP now owns 661,439 shares of the conglomerate’s stock valued at $49,495,000 after buying an additional 395,055 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Crane by 8.9% in the first quarter. Principal Financial Group Inc. now owns 590,135 shares of the conglomerate’s stock valued at $44,160,000 after buying an additional 48,462 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Crane by 4.0% in the first quarter. Morgan Stanley now owns 525,248 shares of the conglomerate’s stock valued at $39,304,000 after buying an additional 19,993 shares during the last quarter. Institutional investors own 69.42% of the company’s stock.

Crane Company (CR) opened at 76.23 on Tuesday. The firm’s 50 day moving average is $79.98 and its 200 day moving average is $76.67. Crane Company has a 1-year low of $59.81 and a 1-year high of $84.34. The stock has a market capitalization of $4.54 billion, a P/E ratio of 34.73 and a beta of 1.10.

Crane (NYSE:CR) last posted its earnings results on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, meeting analysts’ consensus estimates 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 company earned $1.21 EPS. On average, equities research analysts anticipate that Crane Company will post $4.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.73%. Crane’s dividend payout ratio is currently 60.83%.

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Several equities research analysts have issued reports on CR shares. William Blair upgraded shares of Crane from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 25th. Stifel Nicolaus lifted their target price on shares of Crane from $80.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, April 26th. TheStreet upgraded shares of Crane from a “c+” rating to a “b+” rating in a research report on Monday, April 24th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $90.00 price target (up from $82.00) on shares of Crane in a research note on Monday, May 1st. Finally, Canaccord Genuity raised shares of Crane from a “hold” rating to a “buy” rating and lifted their price target for the stock from $78.00 to $92.00 in a research note on Tuesday, May 16th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Crane has an average rating of “Buy” and a consensus target price of $76.88.

In related news, VP Curtis A. Baron, Jr. sold 5,364 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $79.60, for a total value of $426,974.40. Following the completion of the sale, the vice president now directly owns 18,044 shares in the company, valued at $1,436,302.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kristian Robert Salovaara sold 9,200 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

About Crane

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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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