14,900 Shares in Crane Company (NYSE:CR) Acquired by Spark Investment Management LLC
Spark Investment Management LLC acquired a new position in shares of Crane Company (NYSE:CR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,900 shares of the conglomerate’s stock, valued at approximately $1,182,000.
Several other large investors have also recently bought and sold shares of CR. FMR LLC raised its stake in Crane by 1.9% in the fourth quarter. FMR LLC now owns 87,240 shares of the conglomerate’s stock worth $6,292,000 after buying an additional 1,643 shares in the last quarter. Bank of Montreal Can raised its stake in Crane by 2.8% in the first quarter. Bank of Montreal Can now owns 5,024 shares of the conglomerate’s stock worth $376,000 after buying an additional 135 shares in the last quarter. Alpha Windward LLC purchased a new stake in Crane during the first quarter worth approximately $485,000. Americafirst Capital Management LLC purchased a new stake in Crane during the first quarter worth approximately $325,000. Finally, Louisiana State Employees Retirement System raised its stake in Crane by 3.3% in the first quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the conglomerate’s stock worth $950,000 after buying an additional 400 shares in the last quarter. 69.42% of the stock is currently owned by institutional investors.
Crane Company (NYSE CR) opened at 75.17 on Thursday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 34.25 and a beta of 1.10. The company’s 50-day moving average is $79.41 and its 200 day moving average is $76.76. Crane Company has a 52 week low of $59.81 and a 52 week high of $84.34.
Crane (NYSE:CR) last announced its earnings results on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.17. Crane had a net margin of 4.79% and a return on equity of 20.57%. The firm had revenue of $702.50 million for the quarter, compared to analysts’ expectations of $702.53 million. During the same quarter in the previous year, the business posted $1.21 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts forecast that Crane Company will post $4.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, August 29th. Crane’s dividend payout ratio (DPR) is presently 60.83%.
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CR has been the topic of a number of analyst reports. William Blair raised shares of Crane from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 25th. Stifel Nicolaus upped their price objective on shares of Crane from $80.00 to $84.00 and gave the company a “hold” rating in a research note on Wednesday, April 26th. TheStreet raised shares of Crane from a “c+” rating to a “b+” rating in a research note on Monday, April 24th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $90.00 price objective (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 upped their price objective for the company from $78.00 to $92.00 in a research note on Tuesday, May 16th. 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 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 sale, the vice president now owns 24,786 shares in the company, valued at approximately $1,888,693.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Curtis A. Baron, Jr. sold 5,364 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $79.60, for a total transaction of $426,974.40. Following the sale, the vice president now owns 18,044 shares in the company, valued at approximately $1,436,302.40. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
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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