Smithfield Trust Co. Has $153,000 Position in Crane Company (CR)
Smithfield Trust Co. decreased its position in shares of Crane Company (NYSE:CR) by 16.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,930 shares of the conglomerate’s stock after selling 370 shares during the period. Smithfield Trust Co.’s holdings in Crane were worth $153,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Perkins Capital Management Inc. increased its position in Crane by 6.1% in the first quarter. Perkins Capital Management Inc. now owns 8,700 shares of the conglomerate’s stock valued at $651,000 after buying an additional 500 shares during the period. Meadow Creek Investment Management LLC increased its position in Crane by 91.7% in the first quarter. Meadow Creek Investment Management LLC now owns 12,512 shares of the conglomerate’s stock valued at $936,000 after buying an additional 5,984 shares during the period. State Treasurer State of Michigan increased its position in Crane by 2.0% in the first quarter. State Treasurer State of Michigan now owns 20,432 shares of the conglomerate’s stock valued at $1,529,000 after buying an additional 400 shares during the period. TD Asset Management Inc. acquired a new position in Crane during the first quarter valued at $2,245,000. Finally, American International Group Inc. increased its position in Crane by 12.3% in the first quarter. American International Group Inc. now owns 138,511 shares of the conglomerate’s stock valued at $10,365,000 after buying an additional 15,217 shares during the period. 69.42% of the stock is currently owned by institutional investors and hedge funds.
Crane Company (NYSE CR) opened at 75.93 on Wednesday. The stock has a 50 day moving average price of $79.75 and a 200 day moving average price of $76.66. Crane Company has a 12 month low of $59.81 and a 12 month high of $84.34. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 34.59 and a beta of 1.10.
Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.17. Crane had a return on equity of 20.57% and a net margin of 4.79%. The firm had revenue of $702.50 million for the quarter, compared to the consensus estimate of $702.53 million. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Crane Company will post $4.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.74%. The ex-dividend date is Tuesday, August 29th. Crane’s dividend payout ratio is 60.83%.
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Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Friday, May 26th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $90.00 price objective (up from $82.00) on shares of Crane in a report on Monday, May 1st. TheStreet upgraded Crane from a “c+” rating to a “b+” rating in a report on Monday, April 24th. William Blair upgraded Crane from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 25th. Finally, BidaskClub upgraded Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Seven 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 an average price target of $76.88.
In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $76.20, for a total transaction of $701,040.00. Following the transaction, the vice president now owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Curtis A. Baron, Jr. sold 5,364 shares of the company’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 transaction, the vice president now directly owns 18,044 shares in the company, valued at approximately $1,436,302.40. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.
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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