Keybank National Association OH Buys 3,400 Shares of Crane Company (CR)
Keybank National Association OH lifted its stake in Crane Company (NYSE:CR) by 29.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,790 shares of the conglomerate’s stock after buying an additional 3,400 shares during the quarter. Keybank National Association OH’s holdings in Crane were worth $1,183,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc boosted its position in Crane by 7.8% during the second quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock worth $4,288,000 after purchasing an additional 3,894 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Crane by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock worth $51,002,000 after purchasing an additional 11,670 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Crane by 23.7% during the second quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock worth $46,237,000 after purchasing an additional 111,581 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Crane during the second quarter worth approximately $204,000. Finally, American Century Companies Inc. boosted its position in Crane by 41.9% during the second quarter. American Century Companies Inc. now owns 98,750 shares of the conglomerate’s stock worth $7,839,000 after purchasing an additional 29,150 shares in the last quarter. Hedge funds and other institutional investors own 68.91% of the company’s stock.
CR has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Boenning Scattergood reiterated a “hold” rating on shares of Crane in a research report on Monday, October 2nd. Wolfe Research downgraded Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Royal Bank Of Canada reiterated a “hold” rating on shares of Crane in a research report on Monday, September 25th. Finally, ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $92.14.
In related news, Director E Thayer Bigelow sold 6,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $73.73, for a total value of $442,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Edward S. Switter sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the sale, the vice president now directly owns 23,873 shares of the company’s stock, valued at approximately $1,767,318.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,403 shares of company stock valued at $2,693,998. Insiders own 3.10% of the company’s stock.
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Crane Company (CR) opened at $82.50 on Tuesday. Crane Company has a fifty-two week low of $67.62 and a fifty-two week high of $86.67. The company has a market capitalization of $4,906.46, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. Crane had a return on equity of 20.70% and a net margin of 4.96%. The firm had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. equities research analysts expect that Crane Company will post 4.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.32 annualized dividend and a dividend yield of 1.60%. Crane’s dividend payout ratio is presently 59.19%.
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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