Crane Company (CR) Stake Increased by US Bancorp DE
US Bancorp DE boosted its stake in Crane Company (NYSE:CR) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 9,473 shares of the conglomerate’s stock after buying an additional 140 shares during the period. US Bancorp DE’s holdings in Crane were worth $752,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of CR. BlackRock Inc. raised its stake in 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 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 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 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 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. 69.42% of the stock is currently owned by institutional investors and hedge funds.
Crane Company (NYSE CR) traded up 0.50% on Friday, hitting $74.09. 229,163 shares of the company traded hands. The stock has a market cap of $4.42 billion, a PE ratio of 33.75 and a beta of 1.10. Crane Company has a 12 month low of $59.81 and a 12 month high of $84.34. The stock’s 50-day moving average is $79.15 and its 200 day moving average is $76.75.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, hitting analysts’ consensus estimates of $1.17. The firm had revenue of $702.50 million for the quarter, compared to the consensus estimate of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Equities research analysts expect that Crane Company will post $4.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors 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 yield of 1.78%. The ex-dividend date is Tuesday, August 29th. Crane’s dividend payout ratio is currently 60.83%.
CR has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Wolfe Research initiated coverage on shares of Crane in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Canaccord Genuity raised shares of Crane from a “hold” rating to a “buy” rating and increased their target price for the stock from $78.00 to $92.00 in a research note on Tuesday, May 16th. Stifel Nicolaus reissued a “hold” rating and set a $85.00 target price on shares of Crane in a research note on Friday, July 14th. Finally, ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $76.88.
In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of Crane stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $76.20, for a total transaction of $701,040.00. Following the completion of the transaction, the vice president now owns 24,786 shares in the company, valued at $1,888,693.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Curtis A. Baron, Jr. sold 5,364 shares of Crane stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $79.60, for a total transaction of $426,974.40. Following the transaction, the vice president now owns 18,044 shares of the company’s stock, 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 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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