Kristian Robert Salovaara Sells 9,200 Shares of Crane Company (CR) Stock
Crane Company (NYSE:CR) VP Kristian Robert Salovaara sold 9,200 shares of the stock in a transaction on Friday, August 4th. The shares were 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 in the company, valued at $1,888,693.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Crane Company (NYSE:CR) remained flat at $76.23 during mid-day trading on Monday. 335,206 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $79.98 and a 200 day moving average price of $76.67. The firm has a market capitalization of $4.54 billion, a PE ratio of 34.73 and a beta of 1.10. Crane Company has a 12-month low of $59.81 and a 12-month high of $84.34.
Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.17. The company had revenue of $702.50 million during the quarter, compared to analysts’ expectations of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 EPS. On average, 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 given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.73%. Crane’s payout ratio is currently 60.83%.
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CR has been the topic of several analyst reports. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Wolfe Research initiated coverage on Crane in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Canaccord Genuity upgraded Crane from a “hold” rating to a “buy” rating and increased their price objective for the company from $78.00 to $92.00 in a research note on Tuesday, May 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 price objective on shares of Crane in a research note on Friday, July 14th. Finally, ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $76.88.
Institutional investors have recently bought and sold shares of the stock. ClariVest Asset Management LLC boosted its position in Crane by 15.7% in the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock worth $110,000 after buying an additional 200 shares during the last quarter. Global X Management Co. LLC boosted its position in Crane by 221.0% in the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after buying an additional 1,282 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Crane during the second quarter worth $204,000. Broderick Brian C purchased a new position in Crane during the first quarter worth $202,000. Finally, Janney Capital Management LLC purchased a new position in Crane during the first quarter worth $227,000. 69.42% of the stock is owned by institutional investors.
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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